Adyen co-founder’s new tech startup Tebi secures $22 million in funding to expand its global footprint

Tebi, a new business software startup founded by Adyen co-founder Arnout Schuijff, has raised €20 million ($22 million) in a Series A funding from Index Ventures to fuel its growth and expand beyond the Netherlands.

Schuijff, who left Adyen in 2020, created Tebi as a personal project to help a friend running a pub manage sales more efficiently. Now, with fresh funding, Tebi aims to scale its product globally, bringing its user-friendly platform to businesses around the world. Currently, Tebi employs 30 people at its Amsterdam headquarters and plans to grow its team as it expands beyond hospitality and retail.

Tebi was co-founded in 2021 by Schuijff, alongside Rob Vonk, Adyen’s former EVP of Technology, and a team of entrepreneurs, including Greta Castellana, Thijs van Himbergen, and Mazdak Nasori. What started as a side project has evolved into a business processing over €100 million annually.

Schuijff, who serves as CEO, said the idea was sparked by his frustration with the lack of tech support for small businesses like cafes and shops. “These businesses are tired of juggling multiple overpriced software contracts that don’t deliver,” Schuijff said. “With Tebi, we’ve simplified everything into one intuitive platform anyone can use.”

Xander Waller, an Amsterdam restaurant owner who uses Tebi, praised its simplicity. “It’s like using an iPhone—so straightforward that everyone knows how to use it without needing instructions, which is crucial in a fast-paced environment like a restaurant,” Waller said. He added that Tebi eliminates miscommunication and revenue loss by keeping everything from the kitchen to the front-of-house team in sync.

Tebi’s mobile-first platform offers features like point of sale, payments, inventory management, a kitchen display system, reservations, QR ordering, and bookkeeping. Built on a single codebase for server, iOS, and Android, the platform is designed for rapid updates based on customer feedback. The software’s accounting backbone ensures users have a clear view of their financial data in real-time.

Schuijff explained that Tebi makes it easy for anyone to start and run a business from a smartphone, with no need for expensive hardware or complicated software setups. “We’re at a moment in history when you can take your phone and start a business — without dedicated hardware or ugly, complicated software,” Schuijff added:

“Taking orders and payments, keeping stock, checking your realtime revenue across multiple locations: it can now all be done with a few taps, lowering the threshold to entrepreneurship considerably, and running on smartphones and commodity hardware setups that don’t cost an arm and a leg. But Tebi’s true power lies in complex multi-location setups with many devices, syncing in realtime and providing the instant insights needed to keep track of those locations.”

The company ties its pricing to a user’s monthly revenue, with the platform free for businesses earning under €10,000 a month. For those exceeding that threshold, the cost is €20 per month for each additional €10,000 in revenue. Tebi also offers free usage across multiple devices, locations, and users, with employees owning 15% of the company.

Much like Adyen, Tebi is set to make its money by efficiently processing large transaction volumes. It works seamlessly on both Android and Apple devices, offering flexibility to its users.

Index Ventures, which also backed Adyen, sees great potential in Tebi’s mission. Jan Hammer, a partner at Index, said, “Arnout and his team have a deep respect for the businesses they serve, and they bring incredible expertise in fintech. We believe Tebi has the potential to set new standards for business software.”

Schuijff added that Tebi’s goal is to become a vital partner for small businesses, helping them make better decisions and focus on their creativity. “We want to give independent businesses access to the same tools that big operations use, leveling the playing field and helping them thrive,” he said.

With a strong foothold in Dutch restaurants and bars, Tebi is gaining momentum, providing an easy-to-use platform that helps businesses take orders, process payments, and manage their financials—all in one place. Schuijff believes Tebi’s simplicity and accuracy are what set it apart, helping business owners run their operations with confidence.

Tebi (Credit: Tebi)