Finnish startup Munchfam raised €600,000 in an investment round led by Belgium's Pitchdrive and Greece's Genesis. With fresh capital injection, Munchfam plans to scale and develop its service platform, as reported by ArcticStartup.

About Munchfarm

  • Over 1 million EU restaurants face high failure rates, with 60% in their first year and 80% in their first five. With fierce competition and small profit margins, restaurants must adapt and find revenue sources, with Munchfam offering assistance.

  • Founded in Finland by Pertti Kallioinen, Wei Zhou, Henri Auvinen, and Sauli Lehtovaar, Munchfam is a company that offers a unique service platform for such restaurants. 

  • It combines digital tools, plug-and-play brands, and high-quality ingredients to empower restaurants to thrive across all sales channels, enhancing efficiency and profitability. 

  • The company has over 50 years of experience in the restaurant industry.

‘The support from investors underscores the value of our vision and accelerates our mission to transform the restaurant industry. I’ve built and run my own restaurant chains before. I know how hard it is to run a restaurant and wanted to build a service for restaurants that helps them to survive and thrive. Something that I would have wanted to take into use in my restaurants,’ Pertti Kalloinen, CEO of Munchfam, said.

Investment details

  • The round was led by Pitchdrive, a Belgian pre-seed investor, and Genesis, a Greek new angel co-investment fund.

  • The Munchfam team, with experience in building and running restaurant chains, understands the changing landscape of dining in the online age. The team is already supported by Nordic Makers, Founders Edge, and former and current management of Wolt, JustEat, Food Panda, and Bolt.

With fresh capital injection, Munchfam plans to scale and develop its service platform in Finland, Germany, Denmark, and Sweden, bringing even more innovation to restaurants.