Arnout Schuijff’s New Venture: Financial Technology Startup Tebi

Dutch fintech pioneer, Arnout Schuijff, one of the key minds behind Adyen, a leading payment platform valued at $50 billion, has been meticulously crafting his next disruptive fintech startup, Tebi, since his departure in 2020.

Tebi’s Mission and Initial Funding

Tebi, designed to simplify financial operations for businesses in the hospitality sector, recently secured a significant €20 million in Series A funding from Index Ventures, Fortune reports. This investment constitutes the inaugural institutional capital from Index Ventures, a venture capital firm known for backing other fintech behemoths such as Revolut and Wise. 

Bringing Innovation to Independent Businesses

Over a decade ago, Schuijff noticed independent businesses grappling with fragmented operational and financial systems. His solution, Tebi, offers these businesses a more streamlined, integrated approach. “We’re at a unique point in time when one can use their smartphone to start a business — no need for dedicated hardware or complex software,” says Schuijff, the former chief technology officer of Adyen. 

Tebi’s Team and Competitive Edge

Tebi, founded by Schuijff in collaboration with fellow Adyen alumnus Rob Vonk and a team of 30 employees, aims to stand out in a market saturated with payment apps such as Zettle, SumUp, and Dojo. Tebi plans to make its platform more accessible by offering it free for businesses below a specific revenue threshold and implements a unique governance model where employees own 15% of the company.  

The Role of COVID-19 in Shaping Tebi’s Mission

The COVID-19 pandemic underscored the struggles of hospitality and retail businesses, a factor that Schuijff considered when launching Tebi in 2021. “Many of us didn’t realize how integral bars and cafes were until lockdowns prevented us from frequenting them and watching them struggle to survive,” Schuijff reflects.

Drawing from his experiences at Adyen, Schuijff aims to equip these businesses with the tools necessary for sustainability, thereby leveling the playing field with large-scale operations.

Adyen’s Legacy and Tebi’s Future Plans

Adyen, often hailed as one of the most successful European fintech companies that achieved global reach, has serviced notable clients like Ikea and Nike and fostered an ecosystem of successful entrepreneurs among its alumni. Schuijff’s prominent role in driving Adyen’s exponential growth and his creation of another finance and accounting tool, Bibit, further underscores his expertise in the field. 

Tebi intends to utilize the new funding to extend its reach beyond The Netherlands and further refine its product.

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