Nesto Raises €11m from Expedition Growth Capital to Scale AI Workforce Management for Restaurant Groups
April 13, 2026 – 9:04 am
In short:
Nesto Software GmbH, a Karlsruhe-based workforce management platform for restaurant groups, has secured €11 million in growth equity from Expedition Growth Capital. The London and Boston-based fund targets established European software businesses with over €5 million in annual recurring revenue. Nesto, founded by engineers from the Karlsruhe Institute of Technology, manages scheduling, demand forecasting, HR workflows, and payroll preparation for thousands of restaurant locations across Europe.
Built without institutional capital:
Nesto’s founders, Felix Kaiser (Co-Founder & CEO) and Dr. Theodor Ackbarow (Co-Founder & Executive Chairman), both engineers by training, built the platform organically and grew their customer base to over 3,000 restaurants without external funding. Expedition Growth Capital identified Nesto as a prime investment target due to its impressive bootstrapped growth trajectory, focusing on category-defining European software companies with strong unit economics.
Expedition’s Investment:
Will Sheldon, the Expedition partner leading the investment, praised Nesto as: "an exceptional example of a category-defining European software company quietly transforming restaurant operations across Europe." The investment, amounting to €11 million at the lower end of Expedition’s $375 million third fund, will fuel Nesto’s product development, sales and marketing expansion, and further development of its AI assistant, NORA.
Addressing a Complex Problem:
While many industries struggle with workforce management, hospitality presents a unique challenge due to variable demand patterns, complex scheduling requirements, and significant associated costs. Over-staffing reduces profitability while under-staffing impacts service quality and customer retention. Nesto’s platform tackles these complexities by providing legally compliant scheduling, attendance tracking, and payroll preparation for vast distributed workforces.