Friday, July 11, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Investment: Qlub says $17m for expanding into international markets

Fiinews by Fiinews
February 2, 2022
in Investment, Technology
Reading Time: 4 mins read
A A
0
Qlub
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Globally, 1 in 3 consumers have begun using digital payments in 2021, says Kawar

Dubai-headquartered Qlub, which has launched its ultra-fast payment solution in the United Arab Emirates, Saudi Arabia and India, has raised US$17 million in seed financing from global investors for expanding into international markets in the near future.

The investment is co-led by Berlin-based Cherry Ventures and Point Nine with participation from other global VCs including STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective as well as numerous strategic angels, including C-level executives of major players in the digital food industry such as Delivery Hero.

Qlub enables customers to instantly pay their bills in restaurants within 10-seconds by simply scanning a QR code with their phone, even without an app or any registration. Customers can easily split the bill with their friends and pay the bill with Apple Pay, Credit Card or in instalments (“Eat Now Pay Later”).

The benefit for restaurants is multifold, including higher turnover of their tables, higher tips for their waiters, and happier and returning customers. Ratings of restaurants on Google improve significantly.

On another level, Qlub’s digital and contactless payment solution also helps restaurants and customers adapt to widespread situational preferences amplified by the global pandemic. Qlub cuts down on customer-to-employee and customer-to-customer interactions by eliminating physical transactions associated with passing menus and bills back-and-forth.

“Having built multiple food delivery startups, I was baffled by how little the dine-in experience has improved by technology within the last two decades,” says co-founder Eyad Alkassar.

“Since the advent of credit cards, little to nothing has changed. The choreography around waiting for the bill is so avoidable and a waste of time for both customers and restaurants.”

“By combining two mega trends driven by the pandemic, QRs in restaurants and cashless payments, we are creating the payment function of the future. Our ambition is to establish Qlub as the new global standard and save restaurants and customers time and costs,” Eyad said in a release on 1 Feb 2022.

Filip Dames, founding partner at Cherry Ventures, added, “Adapting to a self-checkout solution is a no brainer for restaurants as offline payments remain a barrier to turnover. We are proud to support Qlub in its ambition to revolutionize the payment space for both restaurants and diners.

“The founders have put together a remarkable team and we are excited to take the first step in this journey with them.”

The founding team members of Qlub are Arun Sharma, Eyad Alkassar, Filiberto Pavan, Gizem Bodur, Jeff Matsuda, Jianggan Li, John Mady, Mahmoud Fouz, Oscar Bedoya, Amit Veer and Ramy Omar.

They’ve previously founded and scaled companies like Lazada, Namshi and Snapp. The growing Qlub team already comprises senior veterans from globally leading foodtech companies and top universities around the world. Together, they bring industry knowledge and technical know-how and are all motivated to solve a decades-old problem with technology-minded, future-proof solutions, the founders say.

Ricardo Sequerra Amram, partner at Point Nine, said, “We’re thrilled to back the founders of Qlub who are experienced operators in the food space. Qlub is building a win-win offering for consumers who want the freedom of cashless payments and the convenience of self-checkout as well as restaurant owners who, in a post-pandemic world, are even more mindful of compressing their fixed costs and allocating staff to revenue generating activities.”

“Globally, 1 in 3 consumers have begun using digital payments for the first time within the last year, while more than half (52%) said they transitioned all or most of their in-store spending to online,” said Faisal Kawar, Principal at FinTech Collective.

“The Qlub team have built, scaled, and sold successful businesses across the world, and are well-positioned to go after and grow the US$5 trillion restaurants and hospitality industry worldwide.”

The funding will primarily go towards product development and hiring across tech and product teams.

Qlub is a global startup headquartered in Dubai, UAE which allows customers to pay their bill in restaurants within 10 seconds by simply scanning a QR code with their phone – even without an app.

Furthermore, they can easily split the bill with their friends and later earn loyalty points. Restaurants will benefit from higher turnover of their tables and higher tips for their waiters.

Cherry Ventures is an early-stage venture capital firm led by a team of entrepreneurs with experience building fast-scaling companies such as Zalando and Spotify. The firm backs Europe’s boldest founders, usually as their first institutional investor, and supports them in everything from their go-to-market strategy and the scaling of their businesses. Cherry Ventures has previously invested in the seed stage of over 70 companies across Europe, including FlixBus, Auto1 Group, Infarm, Rows, Forto, and SellerX. Cherry Ventures is based in Berlin and invests across Europe with operations in London, Paris, and Stockholm.

Founded in 2011, Point Nine is a European early-stage venture capital firm focused on B2B SaaS and B2B marketplace startups in Europe and North America. The firm is a seed investor in more than 150 companies in over 30 countries, including Algolia, Brainly, Chainalysis, Clio, Contentful, Delivery Hero, DocPlanner, Front, Loom, Mambu, Revolut, Sqreen and Typeform amongst others. Point Nine has one of the highest “seed-to-winner” rates of the industry.

FinTech Collective is a global venture capital firm backing entrepreneurs who are rewiring the way money moves through the world. Founded in 2012 and based in New York City, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and DeFi. Backed by some of the world’s leading institutional investors, FinTech Collective manages over US$750 million in assets and has invested in 70 portfolio companies. The managing partners of FinTech Collective met in their mid 20’s and helped build, scale, and successfully exit four Fintech businesses. fiinews.com

Tags: Cherry VenturesQlub
ShareTweetShare

Related Posts

Ansrsource With Tagline
Technology

Tech: ansrsource-ANSR reshape talent across India

by Fiinews
July 11, 2025
0
18

Ahuja to help clients achieve unprecedented levels of operational excellence Austin’s ansrsource has formed a strategic partnership with ANSR, the...

Infogain
Infogain

Tech: Infogain launches GCC solutions in India

by Fiinews
July 11, 2025
0
18

GCC solutions for AI-driven talent, infrastructure and processes Infogain, a leader in digital customer experience engineering based in Silicon Valley,...

IVCA

Invest: India requires $150-$200bn for renewables

July 10, 2025
25
Synergy Quantum

Tech: Partners work on India’s first space infra

July 10, 2025
13
Veeda Lifesciences Logo

Invest: Veeda to leverage Mango AI capabilities

July 9, 2025
12
PIB

Tech: Every Indian stakeholder in bioeconomy

July 9, 2025
23
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Japanese delegation inspects DMIC progress
  • Project: Mindset change is critical for innovation
  • Project: 4,000% in installed solar capacity
  • Project: EV policies part of climate goals
  • Tech: ansrsource-ANSR reshape talent across India

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.