Quandoo posts million-dollar loss for 2020

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

Berlin-based Quandoo made a loss of 61.4 million euros in the Corona year 2020. The year before, it had been 25.8 million. In total, the development of Quandoo has now already cost 157.7 million euros. This is reported by the website German startups.

According to the company, the reasons for the rotten figures in 2020 are a decline in online reservations and a shortfall in the fees that restaurants normally pay for Quandoo use. The company therefore got outside help. The source quotes from the company's report as follows: "The granting of a loan by Recruit Global Treasury Services Ltd, London, England, in the amount of EUR 30,600 thousand enabled Quandoo GmbH to maintain its solvency in fiscal 2020."

Founded in 2012, Quandoo considers itself one of the fastest growing restaurant reservation platforms in the world. It brokers millions of seats at more than 18,000 restaurants. The company provides restaurateurs with the management system for reservations. Quandoo was acquired by Recruit Holdings in March 2015 and employs about 350 people in 10 countries.