Why we invested in Honei
Backing Honei to transform dine-in experiences with seamless order-and-pay technology
At Abac Nest Ventures, we partner with entrepreneurs who address critical inefficiencies in established industries. Sergi and Bernat, two exceptional Barcelona-based entrepreneurs, exemplify this spirit perfectly. Together, they are revolutionizing the dine-in experience with an innovative mobile order-and-pay platform designed to streamline restaurant operations and elevate customer satisfaction.
The $2.3 trillion food and service industry has seen delivery services achieve extraordinary efficiency, but dine-in operations remain ripe for innovation. Pressing challenges such as long wait times, staffing shortages, and outdated processes make it increasingly difficult for restaurants to meet modern customer expectations while maximizing profitability
Honei addresses these issues, enabling restaurants to enhance operational efficiency, boost revenue, and stay competitive in a rapidly evolving global market, and we are proud to support Sergi and Bernat in driving this mission forward.
The challenge: Staffing shortages and operational inefficiencies
The restaurant industry is grappling with labour shortages, escalating costs, and increasing customer demands. In Spain, the worker shortage has become increasingly pressing, leaving many restaurants unable to meet demand. This results in strained operations, increased marginal costs, inconsistent service quality, and a compromised dining experience.
Additionally, restaurants often lack access to critical in-house data, forcing them to rely on expensive third-party platforms for marketing and retention. This fragmented approach makes it difficult for businesses to achieve sustainable growth in an increasingly competitive industry.
The solution: A seamless and integrated order-and-pay platform
Today’s Gen Z consumers expect immediacy, autonomy, and convenience. In the food service sector, this translates to seamless dining experiences that minimize wait times and empower decision-making. Honei addresses these demands with an app-free, QR-code-based platform that transforms the dining experience.
By allowing customers to scan, order, and pay directly from their smartphones, Honei not only streamlines operations but also delivers on Gen Z’s preference for tech-enabled autonomy. For restaurant operators, the benefits are transformative:
For restaurant operators, Honei optimizes key performance metrics:
18% increase in table turnover by expediting service.
Up to 30% boost in Average Order Value (AOV) through smart upselling and promotions with an average 6% increase across all Honei’s clients.
55% reduction in staffing workload by freeing waiters from repetitive tasks
Honei’s platform seamlessly integrates with over 30 leading POS systems, unlocking unparalleled opportunities for vertical expansion and operational efficiency. Much like how Toast has revolutionized the restaurant industry in the US, Honei drives innovation by streamlining operations and enhancing productivity. Beyond this, Honei leverages customer data to craft personalized campaigns that supercharge acquisition and retention, mirroring Sunday’s success in France and the UK.
A perfect time-to-market
Honei’s launch comes at a pivotal moment, as technologies like QR codes, contactless payments, and online ordering have evolved from novelty to necessity, driven by a growing tech-savvy consumer base and post-pandemic shifts in dining habits.
The $2.7T food service industry is undergoing a significant transformation, driven by the need for greater efficiency, enhanced customer engagement, and sustained competitiveness in an increasingly globalized market. Honei is at the forefront of this shift, delivering innovative solutions that empower restaurant owners to streamline operations, elevate the dining experience, and maintain a competitive edge in a rapidly evolving industry.
In just 15 months, Honei has made impressive strides, with over 200 active weekly restaurants and processing more than €1m in transactions. Honei is now uniquely positioned to expand and scale in more mature markets, leveraging a successful hyperlocal strategy that ensures sustained growth while maintaining a competitive edge through its distinct and robust product design.
The team: Where ambition meets extraordinary execution
Honei’s success is a testament to its exceptional founding team. CEO Sergi Borja blends technical expertise with a sharp entrepreneurial mindset, leading the company with focus and determination. CTO Bernat Relats complements this leadership with deep software engineering expertise, crafting a sophisticated, user-centric architecture that delivers seamless and intuitive experiences.
Together, Sergi and Bernat bring a remarkable synergy, showcasing not only technical excellence but also exceptional leadership in building and nurturing a cohesive, highly motivated team with a shared vision focused on understanding customer needs. This combination of clarity, execution, and team-centred leadership gives us confidence in their capacity to position Honei as a leader in the food service technology sector.
The founding team’s exceptional orientation toward execution is evident in their ability to rapidly deliver value. Honei’s Terminal, for instance, progressed from concept to monetization in just three months. By its second month since launching in October 2024, the Terminal has already surpassed €160k in monthly GMV, underscoring the product’s immediate market fit and the team’s unparalleled ability to execute at scale.
Check out this podcast from back in 2023 with Honei’s Co-Founders, Sergi and Bernat. It’s impressive to see how much progress they’ve made since then:
Our decision: Backing Sergi and Bernat’s to redefine in-dinning experiences
Transforming the food service industry through technology requires more than just innovation; it demands exceptional execution, a deep understanding of operators and diners, and the ability to deliver a product that redefines and elevates the status quo —qualities that Sergi and Bernat embody like no one else.
With an unmatched capacity for execution, innate talent that translates into a uniquely designed product, and a vision as bold as the opportunity ahead, we’re thrilled to back Honei’s €1.4M seed round and support the entire team in this exciting journey ahead.
To learn more about Honei’s mission and technology, visit their website at honei.app or see the official announcement from El Referente here.
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