Portfolio company OrderYOYO — the preferred digital business partner for local takeaway restaurants went public on Nasdaq First North stock exchange
Danish OrderYOYO listed on Nasdaq First North on 2 July raising DKK 79.4 million. With the IPO, OrderYOYO further enhanced its market-leading European position. OrderYOYO is investing in continued growth in the existing core markets UK, Ireland and Denmark as well as expanding into new selected European markets.
“Our mission is to help the independent take-away restaurants so they can compete online, maintain the relationship with their loyal customers and thereby maintain their independence. It is our vision to be the software solution that enables this. We live and breathe for our mission and are proud of what we do for our customers. We want to invest further in that” says CEO of OrderYOYO Søren Gammelgaard.
OrderYOYO has developed an online ordering, payment and marketing software solution for take-away restaurants. The software solution gives the independent take-away restaurants the opportunity to maintain full ownership of their online brand, digital order flow and the direct contact between the restaurant and the restaurant’s own customers. Up to 90 percent of a take-away restaurant’s orders come from loyal customers who order again and again, which is why OrderYOYO’s cost-effective software solution is extremely attractive to the restaurants.
For OrderYOYO, it is a basic principle that the restaurant should be in focus — not OrderYOYO. Therefore, many have probably already used OrderYOYO’s software solution without knowing it when ordering take-away from their local take-away restaurant.
OrderYOYO listed on First North to accelerate OrderYOYO’s planned sales and growth strategy within UK, Denmark and Ireland. The capital raised will primarily be invested into three key operational areas: Sales and marketing in existing markets, market entry in new selected European markets and product development.
In addition, the IPO can be used as a starting point for being able to communicate OrderYOYO’s mission more broadly to help the independent smaller restaurant owners.
“We are both proud and humbled by the great support we received from both new and existing shareholders. We have a strong circle of experienced and active investors, who on the board all contribute to OrderYOYO’s development” says Chairman of the board of OrderYOYO Jesper Johansen
‘’It’s been a privilege to support the team over the past years on its mission to give the power back to the restaurants. We are proud to have been a part of this successful journey to a public listing and will continue to support the company’s growth over the coming years’’ Says Ulla Brockenhuus-Schack General Partner at Seed Capital and board member of OrderYOYO.
The goal of raising DKK 59.4 million via a public tender, of which DKK 37.5 million was already pre-subscribed, ended with an oversubscription equaling to 203% of the total offering. The remaining DKK 21.9 million offered in the offer period were oversubscribed with a total of DKK 120.5m equal to an oversubscription of 550%.
Following the IPO on 2 July OrderYOYO has entered Germany through the acquisition of German software company Happz . With a focused strategy and an experienced team, OrderYOYO has executed and delivered sustained growth in the existing core markets since its inception six years ago. Now OrderYOYO brings their software solution to the German market to help the potential 24,000 takeaway restaurants in Germany regain their businesses with their own direct ordering-, payment and marketing solution powered by OrderYOYO.
By 20 August OrderYOYO welcomed take-away restaurant number 5,000 as Restaurant Partner — an important milestone for OrderYOYO underlining OrderYOYO’s European market-leading position.
On 25 August OrderYOYO released its first half-year report as a listed company showing 82% growth in net revenue to DKK 53.6m compared to first half of 2020.
Since the IPO on 2 July the OrderYOYO share is off to a good start and is currently trading 75% above the IPO price.