iKentoo raises 4.6 million euros to expand its presence in France

by bold-lichterman

  • iKentoo is a cash register available on the iPad.
  • In France, the solution faces competition from Addition, Tactill and ShopCaisse.
  • With this investment, the company will notably open an office in Paris.

The amount

iKentoo, a solution for financial management for the hotel and catering industry, announces a round of funding of 4.6 million euros, led by private investors whose name has not been communicated.

The market

Created in 2011 in Geneva by David Clerc and Serge Sozonoff, iKentoo is a cash register on iPad. The solution allows hotels and restaurants to manage the financial part via a single tool. The application offers both the management of customer receipts and accounting analysis.

iKentoo is available for 59 euros per month. The price increases according to the number of boxes desired. The company claims 2,500 customers in 14 countries. France, Switzerland and South Africa represent 90% of its turnover. The latter has been multiplied by 7 over the past four years. Since 2016, the solution has generated nearly 46 million transactions each year.

On the market, the start-up is in particular competition from the French L’Addition, Tactill or even ShopCaisse which are all three cash register solutions on iPad.

The goal

With this investment, the start-up wishes to strengthen its presence in France. An office will be open by the end of summer 2017 in Paris. It also plans to develop new innovations and hire 25 new employees across Europe.

Founders: David Clerc and Serge Sozonoff

Creation: 2011

The head office : Geneva

Activity: application for the financial management of the hotel and catering industry

Funding: 4.6 million euros in June 2017