Quandoo records loss in the millions for 2020

The reasons are linked to the pandemic-related restaurant closures, which have hit the reservation platform hard.

The Berlin-based company Quandoo made a loss of 61.4 million euros in the coronavirus year 2020. In the previous year, it had made 25.8 million. The development of Quandoo has now cost a total of 157.7 million euros. This is reported by the website German Startups.

According to the company, the reasons for the losses in 2020 are a decline in online reservations and a loss of the fees that restaurants normally pay for using Quandoo. The company therefore received outside help. The source quotes from the company's report as follows: "Through the granting of a loan by Recruit Global Treasury Services Ltd, London, England, in the amount of EUR 30,600 thousand, the solvency of Quandoo GmbH was maintained in the 2020 financial year."

Quandoo was founded in 2012 and is one of the fastest growing restaurant reservation platforms in the world. It arranges millions of seats in over 18,000 restaurants. The company provides restaurateurs with the management system for reservations. Quandoo was acquired by Recruit Holdings in March 2015 and employs around 350 people in 10 countries.