Choice: Investor, delivery and shared account for HoReCa
Choice (formerly known as ChoiceQR) is a startup founded by Volodymyr Olyanitsky and Oleksiy Ilyash during the COVID-19 pandemic. It is a platform for the development of solutions for catering and HoReCa restaurant business. Choice enables restaurants to create their own applications, websites, online menus with QR payments and a CRM system.
Choice: new investor, own delivery and shared account
The idea of the company is to become the center of communication between restaurants and their guests through QR payments, web pages, booking and ordering tables, as well as functions for food delivery. Restaurants can register in the system and create an online menu for free, and then purchase a paid subscription for additional services, the price for Ukraine is from $19 to $95 per month.
The startup's leading investor
The startup received investments from Presto Ventures, Seedcamp, J&T Ventures and Reflex Capital. In total, by the beginning of 2023, Choice has a thousand customers, 16,000 registrations, 5,000 paying customers and operates in the markets of 25 countries. The company's offices are located in the Czech Republic and Ukraine, and about 16,000 establishments use the platform.
- HoReCa – segment of public catering and restaurant business
- QR payments – a system of electronic payments made using a QR code
- CRM system – a system for managing interactions with customers
Interview with Choice co-founder Volodymyr Olyanitsky
In this interview, Volodymyr Olyanitsky talks about the company's achievements, announces new technological solutions for the platform and shares the details of cooperation with Glovo.
In the beginning, your service attracted investments to enter the new markets To what extent was it possible to implement it?
Choice successfully expanded to other markets, thanks to the expertise of the European market, in particular the Czech Republic.
What did you plan and what did you manage to do in the past year for the development of the platform?
Over the past year, Choice has tripled its customer turnover, opened the Polish and Baltic markets, expanded its team and developed its own delivery.
Did you manage to attract new investors in 2023?
Choice has attracted new investors, the details of the deal are not yet available for disclosure.
In 2022, the total investment in the platform was €2.2 million, and what is the current estimate?
Estimated capitalization of Choice is $15-20 million.
What will the involved investments be used for?
The involved investments are planned to be used to expand the product team, develop new functions and enter new markets.
What new technological solutions are planned for the platform?
Choice plans to expand functionality for chain establishments and improve loyalty systems and CRM.
Has the profit changed from cooperation with you in catering establishments?
Cooperation with Choice allows establishments to increase profits by 10-20% thanks to delivery systems and loyalty systems.
Do you feel competition in the market?
Choice has its own unique proposition in the market and competes with expirenza by monobank with its innovative platform.
Choice started cooperation with Glovo - tell us, on what terms, what is the partnership?
Choice and Glovo are partnering to provide restaurants with a crowdsourced delivery service. Establishments can use Glovo couriers to deliver orders placed through the Choice platform.
How do you test and validate updates for the service?
Choice collects feedback from customers and the team, studies competitors' solutions, tests and fixes bugs before releasing updates. The company is also considering a public backlog of tasks to attract customer feedback and votes.
What are the plans for the development of the service for 2024?
Choice plans to develop in the direction of functions for network establishments, improving loyalty systems and attracting new restaurants.