Here are the key takeaways...
Upstock is a business-to-business online marketplace aiming to digitise ordering for the hospitality and grocery industries, in the same way that Xero digitised manual accounting processes for accountants and small businesses nearly 20 years ago.
Teaming with fellow ex-Xero veteran Duncan Ritchie, who was its chief product officer and serves as Upstock co-CEO, Mr Fierlinger said the pair’s idea is a ‘no-brainer’ for Australian food and grocery businesses.
The platform offers an open marketplace for restaurants, bars and cafes to order from any supplier, and uses a ‘freemium’ model meaning it doesn’t charge upfront setup fees or takes any commission on orders from suppliers.
“With Xero we made a fundamental shift in making accounting software accessible for regular people. Here the opportunity I’d say is more profound … We’re allowing people to do automated ordering, automated sales, automated invoicing, tools that only the largest multinationals had access to and a tiny fraction of the cost.”
Make sure to read the entire article ‘This can be bigger’: Xero co-founder Philip Fierlinger upbeat on new venture Upstock (paywalled)
Screenshot of the article is below...
Upstock is already growing rapidly in Australia
See why the popular Australian artisanal tea brand Prana Chai chose Upstock over all the other options.
"Upstock stood out as the obvious choice – their team truly listened and ‘got us’. Customers are telling us they want Upstock."