Singapore, 30 August 2023 – Qashier, the Singapore-based fintech startup, has announced the successful close of a US$10 million Series A funding round (approximately 351.6 million THB). The investment will allow Qashier to build on its capabilities and expand in its four current Southeast Asian markets, to move into further international markets, and to continue improving its products and services.
The round is led by Delivery Hero Ventures, an independent fund backed principally by Delivery Hero, the global delivery platform leader, together with IFP Securities, Antler Elevate and Cocoon Capital.
The round comes at a time of unprecedented growth in fintech, and underlines how much it matters that easy-to-use tools are within reach of businesses of every size. As businesses across Southeast Asia shift further towards digital payments, Qashier — with its innovative solutions and its commitment to its merchants' success — is well placed to lead in a fast-developing world of digital payments and point-of-sale (POS) systems.
“We are thrilled to have secured this new round of funding, which will allow us to innovate and expand what we offer,” said Christopher Choo, co-founder and chief executive officer of Qashier. “Our mission is to give small and medium-sized businesses the tools they need to succeed, and we believe our products are the complete solution for restaurant and shop owners who want to grow and thrive in today's digital economy.”
Qashier is trusted by businesses of every size across a wide range of industries, from food and beverage to beauty, events and trade shows, and service businesses of all kinds. Its focus on providing affordable, easy-to-use tools has earned it a reputation as one of the region's most innovative and dependable providers of point-of-sale (POS) systems and payment services.
Since it began trading in 2019, Qashier has helped more than 6,000 businesses across Southeast Asia handle sales and shop management transactions worth more than US$1 billion (approximately 35.2 billion THB).
Its combination of hardware and cloud-based software makes it far easier for shops and businesses to manage their transactions and their operations.
In February 2023, Qashier launched the Qashier App, a freemium POS application combining payments and POS to put easy-to-use technology within reach of small and medium-sized businesses, letting them manage their shop and their transactions on their own devices. The beta version released on the Google Play Store for Android devices was warmly received by SME operators across Southeast Asia, with more than 12,000 downloads in the first three days after launch.
Qashier also launched QashierX2, its new flagship POS terminal, and QashierXS, a compact, lightweight and highly portable POS, both combining payments with shop management in one device — new technology that brings the Qashier experience to more merchants.
“In a landscape that is developing this quickly, our aim is to give our customers cutting-edge technology solutions that genuinely meet their needs,” said Franklin Zhao Liang, co-founder and president of Qashier. “With this new investment we can develop our products and our offering so that our customers can work as efficiently and as effectively as they want to.”
Qashier's latest offering for event management is also set to change the game for the events industry, with a comprehensive solution that can be tailored to the needs of each event. Over the past year Qashier has supported merchants at major events across the region, from SneakerCon and Gastrobeats in Singapore to the merchant stalls at BLACKPINK's concert in Malaysia, the Wanderland Music and Arts Festival in the Philippines, and the traders at Asiatique for the Disney 100 Village in Thailand — providing cashless solutions for the merchants at each.
Alex Brown, president of Delivery Hero Ventures, commented: “We are excited to support Qashier in its ambition to become the leading all-in-one platform helping SMEs take their businesses online and accept payments. Many of our restaurant partners around the world run their businesses on separate tools and systems that are often expensive and do not talk to one another. Qashier's end-to-end solution lets restaurants focus on serving their customers and growing their business. We believe Qashier has a clear opportunity to lead as a multi-product provider to SMEs across APAC.”
Qashier continues to grow and now has four offices across Southeast Asia — in Malaysia, the Philippines, Thailand and Singapore. The company plans to invest in research and development to bring further innovation to businesses in the region and beyond.
For more on Qashier and how it can strengthen your business, visit https://www.qashier.com/th/en
For media enquiries, please contact:
Harvi Torres
Regional Marketing Manager of Qashier
[email protected]
About Qashier (www.qashier.com)
Qashier is a Singapore fintech startup that helps merchants get ready for the digital economy, strengthening them with intelligent, end-to-end sales and payment technology. Businesses of every kind succeed further with its cloud-based POS software suite, which includes memberships, inventory management, online food ordering and other offline-to-online tools. Pairing that technology with a commitment to merchant success, Qashier helps SMEs work more efficiently and scale their businesses affordably while improving profitability.
Backed by venture capital firms including Delivery Hero Ventures, IFP Securities, Antler Elevate, Cocoon Capital, HCVC and Exor Ventures.
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About Antler (www.antler.co)
Antler is a global venture capital firm investing in technology companies that matter to the future. It has offices in major entrepreneurial hubs around the world, including London, Berlin, Stockholm, New York, Singapore and Sydney.
Founded in 2017, Antler aims to improve the foundations of the world by backing and investing in the world's most exceptional people — building complementary co-founding teams, supporting them with rigorous business model validation, and providing a platform for global scale. To date Antler has invested in more than 350 companies across 30 industries worldwide, over 40% of which have at least one female co-founder, with founders of more than 70 nationalities.
About Cocoon Capital (https://cocooncap.com)
Cocoon Capital is a Singapore-based venture capital firm focused on early-stage technology companies across Southeast Asia. With more than S$70 million in assets under management, it invests in medical technology, fintech, insurtech and other deep technology businesses, and has made 29 investments to date. Under the slogan “Dare to Change™”, the firm sets itself apart by working closely with founders to unlock their potential to change the world. Its 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 fund backed by Delivery Hero, the leading global food delivery platform. Its mission is to back the next generation of founders reshaping industries in a world that never stops changing. Central to the fund's value proposition is its ability to draw on Delivery Hero's business ecosystem for the benefit of its founders, helping them scale into leading global businesses.
About IFP Securities
IFP Securities is a Luxembourg-based securitisation specialist that advises investors on structuring and planning investments, principally in assets not listed on a stock exchange