Swedish-based Parsly, an AI-powered platform that analyzes purchasing data to help restaurants save time and money, is acquired by Buyers Edge Platform, an US technology company in the restaurant industry. The acquisition enables Parsly to continue developing its platform and expand further into Europe and to the US.
Parsly was founded in 2021, in the middle of the pandemic which brought challenging conditions not least for the restaurant industry. The platform grew quickly through recommendations between restaurant owners. During its first year, the company managed to get a third of its target group in Stockholm, restaurants with a turnover between $0.5 to $5M, as customers. Parsly is currently used by over 500 restaurants in Sweden and since its inception it has analyzed purchases worth over $140M.
Parsly's platform simplifies procurement management and increases profitability for small and medium-sized restaurants through data-driven insights that are usually only available to larger chains.
“From the start, our goal has been to help restaurateurs achieve greater efficiency and profitability with an autonomous service that requires minimal effort – just a 10-minute onboarding”, said Leo Kia, founder and CEO of Parsly. “With Buyers Edge Platform’s reach and resources, what we have created can significantly expand its impact globally.”
As part of the Buyers Edge Platform, Parsly's users will have access to a suite of software solutions and competitive purchase prices through the company's global supplier network.
“We are thrilled to join Buyers Edge Platform, whose values aligns with ours,” said Ramzi Ferchichi, co-founder and CTO of Parsly. “Together, we are committed to creating a fair and transparent market for the entire industry – restaurants, producers and distributors.”
The acquisition of Parsly is Buyers Edge Platform's fifth in Europe this year and strengthens the company's position as a leading player in procurement technology for the restaurant industry.
“Parsly will add new functionality to our tech offerings and bolster our foothold in the European market,” said John Davie, CEO of Buyers Edge Platform.
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