OiMenu, a Brazilian startup accelerated by U.S. FEBA Capital, buys Styme

The acquisition is the first of a plan to invest BRL 50 million in new food tech startups in the next two years

26.Aug.2021 20:27 BRT

OiMenu, a Brazilian digital menu startup, has acquired its rival Styme, which also works with the digitization of menus and offers queue management and bookings. This is the first of an acquisition plan led by the U.S. holding company FEBA Capital, OiMenu’s accelerator since 2018, which foresees the investment of BRL 50 million in the next two years. With the strategy, OiMenu expects to surpass BRL 100 million in revenues by 2026.

“The purchase is part of an acquisition plan focused on the foodservice market and technology companies. The plan will be led by the OiMenu team and aims to integrate new players into our services,” explained Isaac Paes, CEO and founder of OiMenu.

Headquartered in Santa Catarina state, OiMenu works with two main products: the digital menu on tablets and the digital menu via QR Code. The startup has more than 3,000 active tablets in several cities in Brazil and informed that in 2021 it has already made more than 5 million orders on its platform, handling about BRL 110 million.

OiMenu’s technology for digital menus allows client restaurants and pubs to make their menus available in several languages and with features that allow customers to view pictures of the dishes and customize their orders.

With Styme, OiMenu takes the first step in its strategy to expand to other verticals – Styme’s app has more than 200,000 active users in the main capital cities in Brazil. Moreover, with the integration into a sole platform, the more than 500 restaurants served by OiMenu will have access to Styme’s features.

According to Paes, the startup‘s goal is to fill a gap in self-service, with a more accessible solution that also provides payment methods such as PIX and integrations with fintechs. “Our goal is to spread as many tablets as possible in restaurants and make it possible to pay the bill through the device or cell phone,” he said.