Arnout Schuijff, co-founder of the payments powerhouse Adyen, is on the rise again with his new software venture, Tebi. The company has recently attracted significant attention, securing a €20 million ($22 million) investment from Index Ventures, a well-known venture capital firm. This funding marks a crucial step in Tebi’s journey as it aims to enhance its business software offerings across the European market.
From Adyen to Tebi: A New Chapter
After leaving Adyen at the end of 2020, Schuijff set out to realize a project he had been developing in his spare time. The initial idea emerged when he created an app to assist a pub owner struggling to manage sales using traditional pen-and-paper methods. This experience sparked the concept for Tebi, a user-friendly software designed to streamline order-taking and payment processing for businesses, particularly in the hospitality sector.
Simplifying Business Operations
At its core, Tebi aims to provide a seamless experience that feels like using a smartphone app, while simultaneously offering robust accounting features. “The simplicity of use is central to our proposition,” Schuijff shared in an interview with Reuters. The software gives businesses real-time insights into their profitability, enabling owners to understand their financial standing well before formal reports are generated.
Schuijff likens business owners to pilots, often flying blind without the necessary instruments to navigate effectively. “We feel the market is very much underserved,” he remarked, emphasizing the need for intuitive tools that can support decision-making in real-time.
An Innovative Pricing Model
Similar to Adyen’s business model, Tebi plans to generate revenue by efficiently managing high transaction volumes. The software operates on both Android and Apple devices, providing flexibility for users. Notably, Tebi is free for businesses generating up to €10,000 in monthly revenue, with a nominal fee of €20 for each additional €10,000. This pricing strategy is designed to make the platform accessible to a wide range of businesses, encouraging adoption and growth.
A Proven Track Record
Schuijff’s entrepreneurial journey is impressive. His first company, a payments processing firm called Bibit, was acquired by the Royal Bank of Scotland in 2004 for $100 million. Adyen, his second venture, has grown exponentially and is now valued at €43 billion. With this strong background, Tebi is well-positioned to attract attention and investment in the competitive business software market.
Support from Index Ventures
Index Ventures, which also played a pivotal role in Adyen’s success, is expected to be a valuable ally for Tebi. The firm’s backing not only provides financial resources but also strategic support for entering new markets. Initially targeting north-western Europe, Tebi is poised for expansion as it seeks to establish itself in various regions and sectors.
Looking Ahead
As Tebi gears up for growth, the focus will remain on enhancing its software to meet the evolving needs of businesses. Schuijff’s vision is clear: to empower business owners with tools that simplify their operations and improve their financial oversight.
The investment from Index Ventures is a significant endorsement of Tebi’s potential, and as the company continues to refine its offerings, it is likely to attract further interest from businesses looking to modernize their operations.
In an era where digital transformation is crucial for success, Tebi stands at the forefront of this shift, offering solutions that resonate with today’s business challenges.
Conclusion
Arnout Schuijff’s journey from co-founding Adyen to launching Tebi is a testament to his entrepreneurial spirit and innovative mindset. With a solid investment backing and a clear vision for the future, Tebi is poised to make a substantial impact in the business software landscape. As it expands, the company’s commitment to simplifying operations for businesses will be key to its success, making it a player to watch in the coming years.
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