UK and Poland-based CRM platform provider Embargo has raised over €685,000 (PLN 3 million) in funding from prominent business angels, MamStartup reports. The investor list includes Paweł Fornalski, Pierre Decote, Aleksander Przetakiewicz, and the Opoka fund.
- Founded by Fryderyk Szydlowski and Tsewang Wangkang in 2017, Embargo provides a CRM platform and loyalty app for the hospitality industry that allow restaurants, bars, and coffee shops to recognize, reward, and communicate with their customers.
- Since 2022, when the startup entered the Polish market, Embargo has multiplied its revenue by over 300% and increased the number of venues that use its solution to 1,500.
In July 2023, AIN.Capital talked with the founders of Embargo for our Startup of the Day feature column:
- The current round was supported by a number of prominent angel investors. The list includes Paweł Fornalski, the founder of IAI SA, Pierre Decote, Global Chief Risk Officer at Revolut, and Aleksander Przetakiewicz with his family, and the Opoka fund.
In my investments, I materialise a strong belief that the D2C model will win out. Embargo brings together in a single system, everything a food outlet owner needs to communicate with customers and run a variety of ordering models, without having to use an intermediary such as a portal that additionally eats up the lion’s share of the margin,
Paweł Fornalski commented.
The Embargo platform will use the money for further product development and increasing the sales team both in the UK and Poland. Expansion to other countries is also possible.
