TA Associates Invests in Israeli Online Food Marketplace 10Bis

NOAH Advisors acted as exclusive financial advisor to 10Bis and its shareholders

NOAH Advisors Completed Transaction 10bis

Deal Team

Tamir Carmel, Tomer Fefer, Nurit Shaked
TA Associates:
Naveen Wadhera, Morgan Seigler, Stefan Dandl, Max Cancre
Goldfarb Seligman:
Rami Sofer, Veran Vistanetzky
NOAH Advisors:
Marco Rodzynek, Jan Brandes, Nikhil Parmar, Aleksander Skwarczek

Transaction Summary

  • On 23rd of May 2016, 10Bis (www.10bis.co.il) – #1 online platform in the Israeli restaurant and food ordering market – announced an investment by TA Associates
  • Financial details of the transaction were not disclosed
  • TA Associates will help 10Bis to execute its multi-layered growth strategy, with the Israeli B2C market opportunity as its main focus in the short-term

Overview of 10bis

  • In the B2B market in Israel, 10bis operates a leading online food marketplace that allows businesses to provide employee meal benefits programs
    • The 10bis platform is integrated into a company’s human resources and accounting systems, with employees’ allowances made available through a dedicated 10bis account
    • 10bis clients include leading Israeli corporates as well as large multinational corporations
    • Employees can make restaurant purchases via the 10bis mobile app or website, or by using a 10bis card in person at participating restaurants. Individuals can also use the 10bis platform to order personal meals from the comfort of their home
  • In 2015, 10bis entered the B2C market with the launch of its direct-to-consumer offering
    • The rapidly growing platform provides quick and easy access to thousands of restaurant menus, reviews and ratings, while offering discounts, special promotions and other benefits
  • 10bis processes more than one million orders per month across a network of more than 3,500 restaurants in 20 cities in Israel
  • Founded in 2000, 10bis is headquartered in Tel Aviv

NOAH Advisors’ Role

  • NOAH Advisors acted as exclusive financial advisor to 10Bis and its shareholders
  • This marks NOAH Advisors’ 4th transaction in Israel in the last 24 months: Sell-side advisor to Drushim and its shareholders in its 70% stake sell to Yad2 in September 2015, advisor to BiScience in its minority deal with WPP in July 2015, and advisor to Yad2 and its shareholder Walla! in its 100% sale to Axel Springer in May 2014