Irish start-up Rezexe raises €1.7m to roll out reservation platform

20 Apr 2021403 Views

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The Enterprise Ireland-backed start-up is beginning Irish trials of its platform but has eyes on international expansion.

Dublin-based start-up Rezexe is rolling out its online reservation marketplace after raising €1.7m in funding.

It secured backing for the platform, which has been in development for two years, from investors based in Ireland, Europe and Asia in an initial funding round completed in 2020.

Rezexe is creating a secondary marketplace for trading reservations and waiting list places. It allows users to buy and sell reservation spots at participating businesses such as restaurants, golf courses, dog groomers and tattoo parlours.

For fixed-capacity businesses, the idea is that the platform can help maximise resources and cut down on no-shows. Rezexe is still in the testing phase and the company is seeking businesses, clubs and organisations to take part in its beta trial.

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The start-up was founded by Ross Ivers, a former finance director and deputy CEO of Paddy Power, who has experience in financial roles across a number of industries. He is joined on the company’s board by Investec Private Finance Ireland chair Graham O’Brien and independent brand strategy consultant Sue Cleary.

“The level of interest in the concept was reflected in our initial funding, which was significantly oversubscribed from investors in Asia, Europe and Ireland,” said Ivers, who is the company’s founding director and CEO.

“Following what we hope will be a successful beta trial in Ireland, which we commence today (20 April), we plan to move internationally immediately and will be seeking additional funding in due course.”

Rezexe’s €1.7m funding includes a €250,000 investment from Enterprise Ireland. Niall McEvoy, who is manager for high-potential start-ups in the ICT sector at Enterprise Ireland, described the platform as a “simple and unique proposition”.

“Its scalable business model means it has the potential for significant export and jobs growth,” he added.

Sarah Harford is sub-editor of Silicon Republic

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