Tebi, the new startup by Adyen’s departed cofounder, raises a fresh $30M from Alphabet’s CapitalG

Arnout Schuijff, the co-founder of the prominent Dutch payments company Adyen, has embarked on a new venture, Tebi, after stepping down in 2021. Based in Amsterdam, Tebi is a fintech startup dedicated to transforming how restaurants, bars, and other hospitality businesses operate, offering a comprehensive subscription-based platform that integrates payments, reservations, inventory management, and more. Despite the competitive landscape that includes various POS systems and analytics tools, Tebi aims to distinguish itself through its enterprise-level functionalities and pricing tailored for small and medium-sized businesses. Schuijff expressed that while it might appear as a venture Adyen could have pursued, creating a product specifically for SMBs made more sense outside the large enterprise context. Schuijff’s decision to leave Adyen was not a reflection of dissatisfaction; in fact, he enjoyed his role as CTO. However, his passion for coding and a desire to assist local business owners inspired him to create Tebi. The idea was rekindled during the COVID lockdown when he sought to alleviate the burdens of tax reporting for his favorite bar. With advanced technology at his disposal, Schuijff recognized the growing need for real-time transaction updates in the hospitality sector. He collaborated with bar owner Mazdak Nasori, who became a co-founder of Tebi, to address the challenges of manual reconciliation. Transitioning to the role of CEO, Schuijff acknowledged the irony of missing coding while focusing on strategic leadership. He emphasized the importance of building a strong team; he recruited Rob Vonk as CTO and Aki Tas as COO to balance the tech-heavy foundation. Schuijff also actively engages with potential clients during his outings, discussing their challenges and introducing Tebi’s solutions. Since launching, Tebi has successfully penetrated the Dutch market, with merchants processing substantial annual payments through the platform. The company is poised for growth, with plans to double its workforce and expand into the U.K. and other European countries. Recently, Tebi secured €30 million (approximately $34 million) in funding led by CapitalG, the growth fund of Alphabet, bringing its total funding to €56 million (about $64 million). This investment will not only support Tebi's expansion but also enable the incorporation of additional AI features aimed at enhancing business operations. Schuijff envisions a future where Tebi evolves into an AI-driven platform that optimally supports hospitality management. Looking ahead, Tebi is focused on establishing a strong foothold in Europe before considering entry into the U.S. market, with ambitions to capture a significant market share in the years to come.