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Japan's Recruit buys VC-backed restaurant booking site

  • Andrew Woodman
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Japanese employment and internet services company Recruit Holdings has acquired German VC-backed restaurant booking site Quandoo for EUR198.6 million (about $219 million).

Launched in 2012, Berlin-based Quandoo runs an online reservation system. According to a release, it serves more than 6000 restaurants across 10 counties in Europe, as well as South Africa, Lebanon, and Singapore.

The start-up has raised approximately $39.5 million across five rounds involving seven investors including HV Holtzbrinck Ventures, DN Capital, Sixt Family, and Texas Atlantic Capital. Its most recent round, which took place last July, compised $25m in growth financing led by Piton Capital and affiliates. Recruit acquired an initial 7.09% stake in Quandoo in October 2014.

Recruit - which went public in Tokyo last year - has track record for buying former VC and PE-backed assets. In January, it acquired Australia-based IT and specialist recruiting firm Peoplebank from Navis Capital Partners for A$68.6 million ($56.6 million).

 

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