The Brussels-based restaurant delivery startup has ceased trading as is looking for a buyer.Founded in 2013, the aim was to offer the high-end restaurant segment a reliable delivery service using exclusively bike couriers and ensuring the best buying experience for their online customers.
A household name in the #BeTech landscape, Take Eat Easy grew quickly within less than three years. It also became one of the flagship companies in the competitive international restaurant food delivery segment and, back in March, it was named "Scale Up of the Year" at the Tech Startup Day Awards.
The Take Eat Easy story
Once the company had tested and proven the concept in Brussels, it expanded to Paris. Shortly after, Take Eat Easy raised a first round of VC funding in April 2015 and a second one in August 2015. By October 2015, they had started working towards a Series C round.
"We’ve started working on our Series C in October 2015. We knew we had to gear up as one of our own investors acquired and invested aggressively in a direct competitor, now Foodora, and Deliveroo had just raised a massive round of funding. Unfortunately for us, they raised and announced an even bigger round a couple of weeks later. That didn’t help.", opened up Adrien Roose, CEO and Co-founder of Take Eat Easy.
By March 2016 the startup had been rejected by 114 VC funds. So they signed a term sheet with a French logistics group for an investment equivalent to 30M € but their board eventually turned down the deal and they withdrew their offer.
Besides not having managed to secure a much-needed third round of funding, the reality is that revenue doesn’t cover all costs yet, according to Roose.
Nevertheless, over the past year, the startup increased the size of its team from 10 to 160 and scaled its restaurant partnerships from 450 to 3,200, while growing its customer base from 30,000 to 350,000. It is bitter to see one of the rising stars of the Belgian startup scene ceasing their services but it is known that the road to success is a bumpy one. Read Adrien Roose's farewell blog post to have a first-hand account of the numbers but also the philosophy and the great team behind this startup. #BeProud !