Choco acquires Spanish start-up Katoo

According to its own information, the food service platform thus becomes the leading ordering app for gastronomy in Spain. It is not known how much the acquisition cost.

The Spanish offshoot of the food service platform Choco has acquired the start-up Katoo. This makes Choco the leading foodservice ordering app in Spain, according to the company. The unicorn adds 1000 suppliers and 3000 restaurants to its own app through Katoo customers. Neither company disclosed pricing modalities.

"We decided to partner with Katoo because our goal has always been the same: to reduce food waste while helping the restaurant industry go digital," said Choco co-founder and CEO Daniel Khachab. Diogo Cunha, CEO and co-founder of Katoo, also sees the merger with the long-standing partner as an opportunity to further develop his own offering.

Choco counts 11,000 suppliers and 15,000 restaurateurs among its users worldwide. According to the company's own information, 500,000 orders with an annual goods turnover of over one billion euros are traded via the app every month. The company is the market leader in the U.S. and Europe, according to the report. Khachab founded Choco in 2018 with Julian Hammer and Grégoire Ambroselli in Berlin; today, the company is worth more than $1 billion.

Katoo, on the other hand, was founded in Madrid in 2019. Diogo Cunha and Karan Anand wanted to simplify the relationship between suppliers and restaurants with their app. Restaurateurs can place orders via email or Whatsapp. Katoo says it counts 5,000 restaurants in four countries among its customers.