Orderbird says it is ready to migrate into new markets after adding 400 new customers for its iPad-based point of sale system in recent months and adding payments industry veterans to its supervisory board.
The Berlin-based mobile point of sale provider now has more than 2,000 customers, primarily in Germany, Austria and Switzerland. Orderbird recently expanded into the U.K. and Ireland and says it will announce two more countries soon.
This week, the company named several new members of its supervisory board. Holger Luedorf, vice president of business development at San Francisco-based Foursquare, joined the board to help oversee product innovation and expansion; Alexander Massart, who has worked for Swiss Bank UBS and Visa in the U.S. and Europe, and Mark Schoen, a former NCR and Radiant Systems executive, also joined.
"We have a very close relationship with our board as they represent all areas of our business model," says Jakob Schreyer, CEO and founder of Orderbird. "Our board interacts and works with us, and helps, consults and supports us in our business decisions and strategy."
Schreyer founded Orderbird in 2011 with partners Bastian Schmidtke, Patrick Brienen and Artur Hasselback with the intention of creating an affordable POS system for the catering industry.
Orderbird targets restaurants, cafes, ice cream shops, bars, beer gardens and nightclubs with its POS system, which comprises a receipt printer, a mobile card reader, an iPad app and the my.orderbird browser-based online management dashboard.
"Sometimes we work with partners to integrate solutions, as we have with PayPal in Germany," Schreyer says. "In several projects, we integrate software and hardware, such as Wirecard's card reader, done as a customized white-label solution."
Orderbird POS accepts swiped and EMV-chip card payments through its card reader and mobile payments through PayPal's check-in app, Schreyer says. Orderbird is currently testing Wirecard's Bluetooth Low Energy payment system.
Orderbird's product also operates on iPods and iPhones. "It is the perfect solution for mobile businesses, such as food trucks or market stalls," Schreyer says.
Orderbird can adapt to new technology in the future through the use of open application programming interfaces and in-house enhancements, Schreyer says.
Though Orderbird is focused on expanding in Europe, "we receive strong demand from U.S. caterers, and that's a very interesting and vibrant market," Schreyer says.
Orderbird is one of many companies that has entered the market in the past year with an affordable POS option for small businesses, says Gil Luria, analyst with Los Angeles-based Wedbush Securities.
"There was a big need for small businesses that couldn't afford an enterprise-class product, in order to have some level of technology to manage their small restaurant or small retail operation," Luria says.
In the U.S., Shopkeep POS and Revel are gaining market share, but "there are a lot of businesses outside of the U.S. that can't afford a system from NCR, IBM or Micros," Luria adds. "For them, having like a subscription on an iPad is a great solution because it's less expensive, and it does a lot they couldn't do before."
Orderbird will find it has to grow quickly in what amounts to a "land grab" in the affordable POS market, Luria says.