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January 25 2019

Swedish fintech company Splitgrid lowers risks for restaurants

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Splitgrid, a Swedish fintech company, expands and now offers its service to restaurants. Their technical solutions reduces the risks for restaurants and makes it that they only pay for the drinks they actually sell. There isn’t a large purchase sum and beverages don’t run the risk of being unsold.

“It is hard for restaurants, in particular the small, to take in, for example, several different types of beer. Suddenly, they have bought a large stock that they then must sell, as they cannot simply go back on the purchase. The breweries in turn risk that they won’t get their invoices paid. We want to lower the risk for both restaurant and brewery,” says Göran Eriksson, CEO of Splitgrid.

Splitgrid’s solution means that the restaurant does not need to pay a lump sum to buy the beer, which cuts down the risks. A bonus is that the restaurant, large or small, can test many different beers – even those from a small brewery, where they do not know if they will sell well or not. In Sweden, the service has already been a success, both for the restaurants and the breweries.

“As a small brewery, it is a challenge to get our beers a spot in the fridge. Splitgrid gives us, and the restaurant, a good opportunity to expose local and small-scale produced products to more consumers,” says Jesper Palm from the Swedish brewery Örebro Brygghus.

Splitgrid is a computers system that is integrated into store cash registers which ensures that money is sent continuously to suppliers. The company was founded in 2016 and has its base in Örebro, Sweden. The founders are Göran Eriksson and Jonas Forsman. The company has about 30 store and e-retailer clients and around 80 suppliers that they regularly transfer money to.

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