Seed Investment in Runchise, a restaurant franchise management solution in Indonesia
Genesia Ventures, Inc. announced that it has invested in the Seed Round of Runchise, which provides restaurant franchise management solutions in Indonesia, from Genesia Venture Fund No. 3 (GV-3).
Franchise and restaurant management solution.
Runchise is an end-to-end (E2E) solution for F&B, starting with POS, outlet management and online ordering platform solution.
About the market of F&B in Indonesia
・The consumer food service industry in Indonesia is estimated to be at $42B in 2020. (source)
・In 2021, GoFood alone:
processed ~$2B+ GTV on its platform,
coming from >1M registered merchants,
of which 99% are MSMEs. (source)
・Tapping into the logistics market Based on Grab’s report on F&B trends in Indonesia (2021, Indonesian language)
45% of meals consumed in Indonesia are from dining out, ordering delivery, and takeaway
Indonesians spend $3.3B on food delivery alone
Problems and Solution
- F&B solutions/platforms are fragmented — need to use different tools for different aspects such as POS, financials, procurement, etc.
- Tools are not integrated — owners have to deal with different aspects of the business separately, possibly automating some while keeping manual processes for others (e.g. automate POS, manual procurement); this lack of integration also means the brands could be missing out on valuable insights into their operations.
- Need to deal with multiple vendors for procurement of supplies.
- E2E solution — Runchise aims to be a one-stop solution for F&B outlets, so brands can just use one platform for all their needs
- Integrated platform — brands can automate all processes from different aspects of the business, and gain insights on data for each outlet, avoid “cheating” by franchisees.
Purpose and Background of Fundraising
Runchise will allocate funds from investors to add talent and strengthen the team, develop products and marketing initiatives. “We would like to thank our investors for their trust. Through investment and collaboration with investors, we will continue to innovate by using technology to improve the performance of the food and beverages (F&B) business and become a trusted technology partner in this industry,” said Daniel.
About the investment
Taka Suzuki, General Partner, Genesia Ventures
Elsha Eliasa Kwee, Investment Manager, Genesia Ventures
We are very enthusiastic about supporting Runchise to digitize stakeholders in the Indonesian culinary industry. In recent years, we have seen how innovation and digitalization have provided new opportunities for MSMEs, especially the culinary sector during the pandemic. The consumer food industry reaches up to 50 Billion USD, with most of it still being run offline, this proves that there are still many opportunities for innovation, digitization and growth in this sector. With the experience of operating a growing company and becoming a founder for the second time, we believe Daniel and his team can seize this opportunity and bring positive progress to the F&B industry in Indonesia.
Company Name: RUNCHISE PTE. LTD.
CEO/Founder: Daniel Witono
Headquarters: 160 Robinson Road, #24-09, Singapore 068914