Singapore-based start-up qlub has raised $25m in a funding round to accelerate growth and expand the service to new markets. The round was led by Al Dhabi Capital, with participation from major family offices in the UAE and existing investors. Qlub has now raised a total of $42m since its founding.
The ultra-fast payment solution enables easy bill-splitting for customers without an app or registration, by using QR codes to facilitate payment by credit card, Apple Pay, Google Pay and local payment schemes. Qlub also offers tipping and group payment options.
In 2022, qlub secured $17m in a seed round, the largest PayTech seed deal globally that year. That round was co-led by Cherry Ventures and Point Nine, with participation from several other global venture capital firms, including STV, Raed Ventures, Heartcore, Shorooq Partners and FinTech Collective. Several angel investors, including leaders in the global digital food industry, also participated in the seed round.
Qlub plans to use the new funds to build new value-add services for restaurants and customers on the platform, as well as expanding to new markets. The company currently operates in four continents, with a significant presence in countries including Australia, Saudi Arabia, Singapore and the UAE. Qlub powers over 2,000 restaurants in these countries, including major names in Singapore such as Merci Marcel, Deelish Brands (Fatburger & Buffalo’s, 800 Degrees), Ayam Penyet President, and Morganfield’s.
The demand for easy, seamless payment solutions has grown significantly during the pandemic, as the restaurant industry faces numerous challenges in hiring and retaining staff. Qlub’s QR payment solutions help restaurants fill the gap, providing a quick and easy payment option that complements the Point of Sale (POS) solutions that restaurants use, improving the overall dining experience for customers, with no additional hardware. By adopting qlub, restaurants have benefited significantly from faster table turnover, increased staff efficiency, and greater customer satisfaction.
“We are committed to transforming the payment experience for Food and Beverage players in Singapore and other key markets, by partnering with leading industry players such as Restaurant Point of Sale solution providers and global payment partners, to offer the best integrated solution for restaurant owners,” said Ramy Omar, co-founder and Chief Business Officer of qlub. “We are thrilled to have the support of our investors and partners as we continue to drive innovation and growth in the industry.”
Morganfield’s Singapore, one of the most popular American family dining restaurants in Singapore, has already benefited from adopting qlub’s payment solution. “At Morganfield’s, qlub has helped streamline our payment operations and allowed us to focus on delivering the best food and drinks possible,” said Kevin, Director of Morganfield’s Singapore. “We have just released a new menu and we are extremely pleased with the positive feedback (and increase in tips) we have received from our customers, and qlub’s revolutionary force in the industry has made us proud to be a part of their success story.”
“As a restaurant operator myself, we understand the importance of having solutions that will add value to both restaurants and customers. With qlub, our cutting-edge Point of Sale and mobile ordering solutions are now complemented with a quick and easy payment solution, enhancing the overall dining experience for diners,” added Bahar, Director of Ayam Penyet President and Co-Founder of FnBees. “This partnership has helped us tackle the challenges of hiring in the Food and Beverage industry. We see qlub as a valuable partner in our journey to bring the future of dining to our customers.”
Share with your friends:
You must log in to post a comment.