Flipdish aims to double revenues in 2023

That is according to a company spokeswoman when asked to comment on new accounts showing that expansion costs at Flipdish Ltd resulted in pre-tax losses increasing six fold to €11.3 million in the 10 months to the end of January 31st last.

The accounts - signed off on November 18th last - disclose in a post balance event that Flipdish is undergoing a restructure of the business. The funding, which followed a $48.5m investment from Tiger Global Management early in 2021, valued the company at $1.25bn. The loss last year takes account of Government grants received of €439,881 and a Research and Development tax credit of €502,489.Founded only in 2015 by brothers Conor and James McCarthy, Flipdish’s technology is used by over 7,500 customers in 32 countries generating order revenues in excess of €250m.

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