Resdi, the Myanmar-based restaurant booking app startup, had recently gotten a US$25,000 investment from Phandeeyar Accelerator, the Yangon-based technology seed accelerator that offers training and funding for emerging startups. In an announcement by Phandeeyar, Resdi is just one of the many pre-seed and seed-stage Myanmar startups that the accelerator is planning to invest in as part of a new endeavour. This is not the first time that Resdi and Phandeeyar have been acquainted with each other, as the restaurant booking app startup had participated in and won Phandeeyar’s Startup Challenge 2018, which is claimed by Phandeeyar to be the country’s largest startup competition.
The new funding will enable Resdi to reach a broader segment of the Myanmar population and on-board more restaurants onto its app. Besides expanding its reach, the startup also intends to invest in human resources to better overcome any future challenges that the startup may face. As well, the startup will look at better ways to enhance their app’s performance so as to better serve their foodies and customers. Ko Zay Ye Htut, Resdi’s chief executive officer and co-founder, said that the fresh investment from Phandeeyar will enable the startup to tackle some of the major issues that the startup is currently facing, such as a scarcity of human resources and lack of funding to stabilize the startup, which was newly established just last year.
Resdi, which is the shortened term for restaurant discount, was founded by Ko Zay Ye Htut and Thiha Htet Naing in 2018. It is an app startup that operates an online booking platform that enables foodies and customers to make reservations at restaurants on their app conveniently, and it also provides discounts in order to entice more customers during off-peak hours. Ko Zay Ye Htut noted that the discount is a win-win situation for both restaurants and customers, as restaurants are able to get more people to dine in their establishments during slow hours and customers are able to enjoy their discounted meals, which can be as much as 50% off. He expects that this arrangement will gradually transform the dining patterns and habits of Myanmar foodies and consumers for the better in the long run.
Presently, there is a challenge in the restaurant dining space as customers are charged the same price whether it is off-peak or peak hours, and they also have to bear with long waiting times at their most-liked eateries and dining places. As for restaurants and eateries, it can be an uphill challenge to grow their customer base in a highly competitive market. Hence, Resdi was formed as an answer for both parties by allowing customers to make bookings to their favourite eating places beforehand to skip long queues as well as to get attractive discounts, while restaurants are able to increase their efficiency by having a constant stream of customers to serve no matter if it is during peak hours or off-peak hours.
Jes Kaliebe Petersen, chief executive officer of Phandeeyar, said that the accelerator is constantly on the lookout for entrepreneurs that can create resourceful solutions and products that aid businesses and consumers in solving their problems and challenges, and Resdi is a standout in that regard. They have been with Resdi since its formation as the winner of its Startup Challenge 2018. Their latest investment in the reservation app startup will enable it to strengthen its hold in Yangon’s restaurant promotions market, and further expand into other cities in the country.
Resdi, the Myanmar restaurant reservations platform startup, will look to beef up its human resources, fine tune its platform to better serve its customers and on-board more restaurants with the support and funding from Phandeeyar. By bringing convenience and discounts on their favourite meals to foodies and diners in Myanmar, Resdi is helping to improve the businesses of restaurants graduallt while simultaneously helping diners and customers to enjoy a better dining experience.