
Reflex Capital
Rasinovo nabrezi 2000/78, Praha 2, Hlavni mesto Praha, 12000, Czech Republic
Overview
Reflex Capital is a group of accomplished entrepreneurs with multiple US$xxx million exits. It only invests its own money so there is no leverage or dependency on third party partners, i.e. decisions are made very quickly. The profile of the partners makes the fund extremely founder friendly.
- Total investments
- 23
- Lead investments
- 7
- Investments · 12mo
- 6
- Active investors
- 6
Sector focus
- Finance
- Venture Capital
Investment portfolio
- Grid.online
Participated · Equity · Jun 2026
Grid.online operates a neutral shared courier infrastructure and API that lets multiple parcel carriers tap into a common network of flexible local couriers while keeping their own fleets, customer relationships and brands. Founded in 2025 by Ondřej Krátký and Patrik Raš, the startup scaled parcel volumes more than 10× in its first full year and surpassed one million deliveries through the network. The platform currently connects 1,000–2,000 active couriers and has several thousand more on a waiting list. Management highlights strong unit economics as the business scaled, and existing clients are deepening integrations over time. Grid.online plans to use new funding to increase network capacity and resilience and grow engineering and product automation teams, with a view to international expansion.
- Merchantee
Led · Seed · Jun 2026
Merchantee provides a platform that consolidates catalogue, pricing, and campaign data across supported marketplaces and uses AI to recommend and execute actions such as repricing products, selecting promotional campaigns, and optimising catalogue performance. The system operates at the individual product level and can adjust pricing at regular intervals while enforcing seller-defined rules. Merchantee aims to help sellers manage marketplace complexity without materially increasing headcount or operational resources. It is already used by hundreds of sellers and digital commerce teams, including customers such as Philips, Lindt, SodaStream, and Vilgain. The company plans to expand geographically across Europe—starting with Poland and Germany—and to add integrations with marketplaces like eMag, BOL, and Cdiscount. Merchantee is also developing autonomous decision-making capabilities and exploring longer-term agent-to-agent commerce models. The company recently raised €1.8 million to support these product and expansion initiatives.
- FaceUp
Participated · Series A · May 2026
FaceUp provides a unified ethics and compliance platform that combines anonymous encrypted reporting, structured case management, audit tracking, AI-powered hotline services, surveys and external compliance support. The company started in 2017 as a non-profit anti-bullying initiative and commercialized its offering in 2020; it was founded by Jan Slama, David Spunar and Pavel Ihm. FaceUp is used by more than 3,600 organizations across over 70 countries, including customers such as Mercedes-Benz, Zendesk, Heineken, Taco Bell, Sephora, KFC and Vercel, and has processed more than 44,000 reports globally. The company says its platform protects roughly 1.3 million people in 70 countries, about half of whom are students. FaceUp plans to expand its product suite with new investigations, disclosure management and policy management modules, accelerate customer acquisition and grow partnerships. Financially, the company has raised approximately $9 million to date, including the recent $5 million Series A aimed at increasing ARR and expanding the team and market reach.
- Boataround
Participated · Equity · May 2026
Boataround operates an online marketplace for boat and sailboat charters, aiming to simplify and secure bookings across a range of yacht sizes and amenities. Founded in 2016 by Pavel Pribis and Jana Escher, both former Booking.com managers, the company has grown over the past decade and targets global expansion to become the largest charter platform. In 2025 users booked roughly €72 million worth of sailboat reservations through Boataround's site, with the company retaining €8.5 million in revenue. Boataround reports it is profitable and became operationally EBITDA-positive in January 2026. The company is using recent financings and credit facilities to provide runway, support scaling and manage cash flow while continuing its international growth plans.
- Choice
Participated · Series A · Mar 2026
Choice began five years ago as a platform for restaurants to communicate with customers online and has evolved into a comprehensive operating system for independent and multi-location restaurants. Its integrated product includes a website builder, commission-free takeaway and delivery ordering, QR menus/payments/ordering, reservation management with Google integration, marketplace integrations (Wolt, Bolt Food, Foodora, Glovo, Uber Eats, Just Eat Takeaway), loyalty programs, and POS/EPOS integrations, all managed from a single admin panel under one subscription. Choice serves more than 30,000 registered restaurants, with over 7,000 paying customers across nine CEE markets, and processes about 1.5 million orders per month equating to roughly 35 million in monthly GMV. The company has doubled year-over-year and is targeting 500 million in monthly turnover within the next three to four years. Choice plans to expand rapidly across Europe, starting with Portugal (supported by Alea Capital), then Spain and Italy, and later France, Germany, and the Netherlands, while investing in AI-driven product innovation and local sales/support teams.