Qashier raises US$10 Million in Series A Funding co-led by Delivery Hero Ventures and IFP Securities
SINGAPORE, August 30, 2023 – Singapore-based fintech startup Qashier announced today that it has secured US$10 million in a Series A funding round. The funds will enable Qashier to accelerate its growth in its four Southeast Asia focus markets, expand into new international markets, as well as strengthen its product ecosystem.
The funding round was co-led by Delivery Hero Ventures, an independent venture capital fund backed by Delivery Hero, the world’s leading local delivery platform, and IFP Securities. Antler Elevate and Cocoon Capital also participated.
This latest round of funding comes at a time of unprecedented growth in the fintech sector and underscores the importance of accessible, user-friendly tools for businesses of all sizes. As businesses in Southeast Asia shift towards digital payments, Qashier, with its innovative solutions and commitment to merchant success, is well-positioned to continue leading the way in the rapidly evolving world of digital payments and point-of-sale (POS) solutions.
“We’re thrilled to have secured this new round of funding, which will allow us to continue to innovate and expand our reach,” said Christopher Choo, Co-founder and CEO of Qashier. “Our mission is to empower small and medium-sized businesses with the tools they need to succeed, and we believe that our products are the perfect solution for restaurants and retailers looking to grow and thrive in today’s digital economy.”
Trusted by businesses of all sizes in a variety of industries, from retail, F&B to beauty, events and service industries, Qashier’s focus on providing affordable, user-friendly tools, has earned it a reputation as one of the most innovative and reliable point-of-sale (POS) and payment providers in the region.
Since the company’s inception in 2019, Qashier has processed over US$1 billion worth of transactions and empowered over 6,000 businesses across Southeast Asia with its integrated hardware and cloud-based software solution that streamline business operations.
In February 2023, the company successfully launched Qashier app, a freemium POS and payment solution that provides small and medium-sized businesses with an accessible, user-friendly solution to managing their business and transactions from their smart devices. Within three days of the app’s public beta launch on the Google Android Play Store, it received an overwhelming response from SMEs across the Southeast Asian region, with more than 12,000 downloads.
Qashier also recently launched the QashierX2, its latest flagship smart POS terminal, as well as the lightweight and portable QashierXS. Combining both POS and payment solutions, these next-generation pieces of hardware deliver Qashier’s newly integrated capabilities on a single, sleek device – the first of its kind in Southeast Asia.
“In a rapidly evolving business landscape, our goal is to provide our customers with a tech-forward solution that anticipates their needs,” said Franklin Zhao Liang, Co-founder and President of Qashier. “With this new round of investment, we will be able to continue advancing our products and offerings to enable our customers to be as productive and efficient as they need.”
Furthermore, Qashier’s latest offerings for event management have been a game-changer for the events industry, providing a comprehensive solution that can be customised to meet the unique needs of each event. Over the last year alone Qashier has powered vendors across prominent events in the region – including SneakerCon and Gastrobeats in Singapore, BLACKPINK concert in Malaysia, Wanderland Music and Arts Festival in the Philippines, and Disney 100 Village at Asiatique in Thailand – with cashless solutions and payment acceptance.
Alex Browne, Principal at Delivery Hero Ventures commented, “We are excited to support Qashier in their ambition to become the leading all-in-one platform to help SMEs bring their business online and accept payments. Many of our restaurant partners globally use siloed software tools in their operations, which are often expensive and don’t interact with each other. Qashier’s end-to-end solution enables restaurants to focus on serving their customers and growing their business. We believe that Qashier has a substantial opportunity to become a leading multi-product provider for SMEs in the APAC region.”
Qashier continues to grow, and currently has four offices across Southeast Asia: Malaysia, the Philippines, Thailand, and Singapore. The company plans to continue investing in research and development to deliver more innovative solutions to businesses in the region and beyond.
For more information about Qashier and how they can empower your business, please visit https://www.qashier.com/ph.
For media enquiries, please contact:
Mutant Communications for Qashier
+65 9710 3600
Mutant Communications for Qashier
+65 9789 7797
About Qashier (www.qashier.com)
Qashier is a Singapore-based fintech startup that readies businesses for the digital economy by empowering them with one integrated smart point-of-sale and payment solution. Businesses of all sizes accomplish more with a suite of powerful cloud-based software including customer loyalty, inventory management, an online ordering system, and other offline-to-online tools. By pairing technology with a strong commitment to merchant success, Qashier helps SMEs affordably streamline and scale operations while increasing revenue.
Backed by venture capital firms Delivery Hero Ventures, IFP Securities, Antler Elevate, Cocoon Capital, HCVC and Exor Ventures.
Do More. Grow More. Be More with Qashier.
About Antler (www.antler.co)
Antler is a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. The firm has offices globally across most major entrepreneurial hubs, including in London, Berlin, Stockholm, New York, Singapore and Sydney.
Founded in Singapore in 2017, Antler is on a mission to fundamentally improve the world by enabling and investing in the world’s most exceptional people, by building complementary co-founder teams, supporting the teams with deep business model validation and providing a global platform for scaling. To date, Antler has invested in over 350 companies globally across 30 different industries. Of these companies, 40% have at least one female co-founder, and the founders represent 70 nationalities.
About Cocoon Capital (https://cocooncap.com)
Cocoon Capital is a Singapore-based venture capital firm focusing on early-stage, enterprise tech companies across Southeast Asia with assets under management of more than SGD 70m. The fund invests within the medtech, fintech, insurtech, and other deep tech verticals. It has made a total of 29 investments to date. With its slogan “Dare to Change™”, it differentiates itself by working closely with its portfolio founders to unleash their potential to change the world. Investments include Qashier, Augmentus, BuyMed, TransTRACK, Lendela, PixCap, SensorFlow and See-Mode Technologies.
About Delivery Hero Ventures (https://www.dhventures.vc)
Founded in January 2021, Delivery Hero Ventures is an independent venture capital firm backed by Delivery Hero, a leading global food delivery platform. Delivery Hero Ventures’ mission is to support the next generation of founders who are disrupting some of the most dynamic industries across the world. A key part of the fund’s value proposition is the ability to leverage Delivery Hero’s unique ecosystem to benefit founders and help them grow world-leading businesses.
About IFP Securities
IFP Securities is a Luxembourg securitization entity that provides to advisors and their investors the possibility to structure and optimize investments mainly in private markets.