Posted In:

Qlub


Global Restaurant Payments Startup Qlub Raises $17m Seed Round

Published:

Feb 01, 2022


Author:

Posted In:

Qlub

Published:

Feb 01, 2022


Author:


Share:

We are beyond excited to back Qlub’s mission to turbocharge digital payments for the $5t+ global food and hospitality industry. The founding team members of Qlub have previously founded and scaled firms such as Lazada, Namshi, and Snapp.

Qlub is building digital payments rails for offline transactions and setting the new global standard to save time for restaurants and consumers. We are thrilled to invest in the monumental $17m seed round alongside Cherry Ventures, Point Nine, Shorooq, Raed Ventures, STV, and Heartcore.

Qlub is currently live in the UAE, KSA, and India, with additional international markets set to follow.

FTC Summary


With COVID turbocharging an industry-wide digital transformation, QR codes - once considered a novelty - have taken the restaurant industry by storm, powering cashless payments and replacing physical menus with digital channels. What initially began as a means of accommodating safety measures during the pandemic is now proving to have real staying power. QR-based payments are bringing a better overall customer experience and streamlining restaurant operations by maximizing turnover. Qlub’s digital and contactless payments solution is a win-win for all. With Qlub, restaurants are already saving 16 minutes per table and can be fully onboarded in under 24 hours from initial touchpoints with Qlub.

At the forefront of this QR-based revolution are Qlub’s co-founders: Eyad AlKasser and Mahmood Fouz. Both founders have a trusted track record of building, scaling, and several successful MENA-based businesses, including Namshi (the region’s first eCommerce powerhouse), FoodPanda, and Snapp (the region’s largest super-app). With prior experience working together and a proven, exceptional ability to execute,

Qlub are well-positioned to capture and disrupt a $5t global food and hospitality industry that is increasingly going digital. Globally, 1 in 3 consumers have begun using digital payments for the first time within the last year, while more than 50% said they transitioned all or most of their in-store spending online.

Media Highlights


Verdict Food Service - Qlub secures funding to drive payment solutions for restaurants

Forbes - Dubai-Based Startup Qlub Raises $17M In Seed Round

Finextra - Qlub raises $17m

https://www.verdictfoodservice...

Share:

Previous Article:
Dharma being acquired by OpenSea
Next Article:
FinTech Collective Launches Women Who Roar Podcast Series in Collaboration with MoneyLion
The views expressed here are those of the individual FinTech Collective LLC (together with its affiliates “FTC”) personnel quoted and are not the views of FTC or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by FTC. While taken from sources believed to be reliable, FTC has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; FTC has not reviewed such advertisements and does not endorse any advertising content contained therein.

Any designations found herein have been made by a third party, and although FTC has no reason to believe that such designations, or the criteria for being considered for such designations, are inaccurate or misleading, FTC does not guarantee its accuracy, and such designations may be incomplete or condensed. No compensation was paid in exchange for any designations, endorsements, or testimonials found herein. The hyperlinks referred to herein are provided for your reference only.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. This content does not constitute an offering or form part of any offering or any solicitation of any offer to subscribe to or purchase any investment by FTC, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with any contract therefore. Any such offer will be made only by means of definitive investment offering documents. The information included herein is subject to change without notice to any recipient. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by FTC, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by FTC (excluding investments for which the issuer has not provided permission for FTC to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://www.fintech.io/portfolio and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://www.fintech.io/disclosures for additional important information.