Singapore-based fintech startup Qashier 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 Qashier X2, 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.