How a Restaurant Platform Makes Most of its Revenue from Financial Services, with Cancan Liu from allO

Three-quarters of allO's revenue comes from payments, lending and insurance. None of it was planned.

Cancan Liu co-founded the Munich-based restaurant platform in 2021 as a QR code ordering tool. Every financial product since started with a restaurant owner asking for something. allO is now live in around one thousand restaurants across Germany, with Austria next.

In this episode we cover:

1. The four phases of allO, from scan to order and pay to digital employees
2. Why integrating with existing point of sale systems was a dead end in Germany
3. The cuisine go-to-market, with dedicated Vietnamese, Indian, Chinese and German teams
4. How one night of manual reconciliation turned allO into a payments company
5. Working with finmid and Stripe on lending, and what restaurants get from their bank instead
6. What happens to a software business when financial services become three quarters of revenue

Connect with Cancan on LinkedIn: https://www.linkedin.com/in/liucancan/

About Embedded Finance Review: Embedded Finance Review is a newsletter, podcast, and event series covering the European embedded finance ecosystem. I also offer Office Hours, free intro calls for companies navigating embedded finance, and host regular in-person events across Europe. Find all details at embeddedfinancereview.com.

This episode was produced by https://orama.tv/