Choice

Choice is a Ukrainian developer of the QR menu for restaurants. Using this service, visitors to catering establishments can not wait for the usual paper menu, but scan the QR code with a smartphone camera to get detailed information about the offered dishes. Co-founders were Alexey Ilyash and Vladimir Olyanitsky. The starting capital of the project amounted to €150 thousand.

History

2021: Attraction 400 thousand euros

In October 2021, it became known about investing 400 thousand euros in Choice. Reflex Capital has invested in a Ukrainian food startup. The developer of the QR menu for restaurants intends to use the funds raised for business development in Europe.

By October 2021, the main Choice market is Ukraine, but the company has customers in 25 countries, including the Czech Republic, Hungary, Poland, Germany and the UK.

Choice attracted 400 thousand euros

Prior to this round of funding, Choice earned only on a paid subscription from cafes and restaurants on their online menu. After this transaction, the company also plans to launch payment through QR codes and receive interest revenue for transactions.

We offer a standard bank interest rate, "said Forbes project founder Alexei Ilyash.

According to him, when turnover increases, partners plan to agree with banks on more favorable conditions and receive up to 0.5% of cashback. Ilyash added that the company creates a comprehensive solution for the restaurant, which will combine menus, delivery, payment and reviews.

In March 2021, Choice's revenue reached $20 thousand per month, more recent indicators were not disclosed.

We grow by 10-15% per month, "said project co-founder Vladimir Olyanitsky.

Forbes suggests that for six months Choice managed to increase turnover to $35-45 thousand per month. Choice was valued more than $5 million, Ilyash says. In the near future, it is planned to close the round for $5 million, he said in October 2021.^[1]

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