iKentoo closes CHF5 million financing round

iKentoo develops and provides POS and Business Management Systems for the Hospitality Industry. These funds from the private equity fundraising will be used to open a fully staffed technical, sales and support office in Zurich, and further develop its presence in France, Germany and Spain.

Founded in Geneva in 2011, iKentoo has over 2,500 customers in 14 countries who use its iPad-based Point of Sale and ERP systems. Since 2013 iKento grew 600%. Over 46 million transactions are carried out annually using iKento. Swiss clients include Mövenpick and the Holy Cow, Luigia and Pouly groups. Key iKentoo clients contributed to the equity raising.

This equity raising will enable iKentoo to accelerate its growth. According to Serge Sozonoff, co-founder and joint CEO, “Client satisfaction with our products and service is paramount. The additional funds will enable us to meet the continued strong demand for our products, fuel our technical and product innovation and provide even higher service levels to our clients”.

The Zurich office will formally open in September 2017. It will service all key hospitality categories from independent establishments to multi-site operations.

About iKentoo
Founded in 2011, iKentoo is the Swiss leader in the premium segment of iPad-based Point of Sale and business management systems for the hospitality industry. Servicing over 2,500 customers and issuing more than 46 million receipts a year, iKentoo is unique for offering seamless, intuitive and reliable solutions for establishments of all sizes. Clients include leading Swiss organisations such as Luigia, Holy Cow, Pouly and Swiss Medical Networks as well as thousands of restaurants, multi-site chains, food trucks, festivals, bars, hotels, coffee shops and delis. 

(Press release)

Picture: iKentoo