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More and more venture capital executives are venturing to make million-dollar bets on the Spanish entrepreneurial and innovative fabric. Javier de Jaime, top executive of CVC in Spain , -the British fund known both for its discretion and for its investments in the Spanish League , Naturgy, Tendam or Deoleo, among others- has entered as a minority partner, individually, in a Andalusian emerging project: CoverManager .

The Sevillian startup , present in 25 countries, is standing up to ‘El Tenedor’ from Andalusia after having digitized the reservation and order management of more than 100 Michelin restaurants such as Dani García, El Celler de Can Roca or David Muñoz.

The top executive of private equity has signed the first round of financing of 35 million euros for the company -one of the jewels of Spanish software that points to the next unicorn-, to accelerate its expansion in Europe and Latin America.

The alternative to ‘The Fork’ offers its software for reservations and orders in 25 countries
The first executive of the British fund in Spain has injected several million euros into the startup together with prominent businessmen, entrepreneurs and business angels from the national ecosystem such as Félix Ruiz (Tuenti, Auro and Playtomic), Paco Ávila (founder of Medac), Javier Gutiérrez (CEO of the Dani García Group) and Fernando Martínez (founder of the Alia Capital Partners fund).

The leader of “hospitality”
The operation has involved the acquisition of 25% of the capital of the startup valued at 140 million euros. The founding partners, José Antonio Pérez Moral, CEO, and Carlos Pérez Fernández, director of technology, hold the remaining 75%.

CoverManager ended 2021 with 6 million euros, today it stands at 10 million and plans to close 2022 with 14 million . “Our growth has allowed us to multiply by two every year. In the year of the pandemic, in 2020, we grew by 35%. Our goal is to be the global sales partner for the hospitality industry, offering our associated stores the technology that they need to improve their profitability and be closer to their customers.What really moves us is to position Spain as a source and technology for export to any corner of the world.”

More than 13 million diners make monthly reservations through CoverManager at 6,000 partner restaurants such as DiverXO, Goiko Grill or El Paraguas, among others. The firm wants to accelerate its growth in Europe and Latin America, -Chile, Peru, Colombia and Mexico-, to lead the sector in both regions.

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