Tech

Australia’s Yum secures $ 64 million in Series A funding

Mobile ordering and payment startup Yum has completed a $ 64 million (A $ 89 million) Series A round.

Startups have now raised a total of over $ 72 million

This is Australia’s third largest Series A in history and, according to the company, the largest Australian Series A female-led company.

This money will be used for Yum’s growth plans in Australia, the United Kingdom and the United States.

The company focuses on ordering and paying for QR Code Mobile in the restaurant and hospitality sector. It covers orders and payments, deliveries and pickups, and invoice payments.

The investment was led by the US company Tiger Global. Other investors included Skip Capital, Tennis Australia’s Wildcard Ventures, Broadsheet founder Nick Shelton, and Kogan founder Ruslan Kogan. Existing investors TEN13 and AirTree were also involved.

Following the April 2021 post-seed round, Series A will bring the company’s total funding to over $ 72 million (A $ 101 million).

Kim Teo, CEO and co-founder, states that restaurants, hospitality and entertainment facilities “are embracing more technology than ever before.”

The company launched in the UK and US earlier this year. It attracted attention at festivals such as the famous British Henry Regatta and Taste of London, as well as US venues such as the EP & LP and Strings of Life in Los Angeles.

In Australia, Melbourne-based Yum launched this year at Sydney and Perth airports and announced a global partnership with Afterpay.

Currently, there are more than 1,500 venues using the platform, and the number of users is 13 million.

In the last 12 months, the company claims that 44% of Australians have used the platform.



Australia’s Yum secures $ 64 million in Series A funding

Source link Australia’s Yum secures $ 64 million in Series A funding

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