Singapore-based fintech startup Qashier announced a significant milestone, securing $10 million in a Series A funding round. Co-led by Delivery Hero Ventures and IFP Securities, this investment signals a monumental shift in the accessibility and scalability of fintech tools for businesses across Southeast Asia. The funding comes as the fintech sector experiences unprecedented growth, underlining the market's demand for innovative, user-friendly solutions.
Stakeholders and Investment Dynamics
Delivery Hero Ventures, an independent VC fund backed by the global delivery giant Delivery Hero, alongside IFP Securities, took the lead in this investment round. Other notable participants included Antler Elevate and Cocoon Capital.
Accelerated Growth Plans
According to Qashier, the newly secured funds will be leveraged to accelerate growth across its four focus markets in Southeast Asia, explore international market expansion, and fortify its product ecosystem. Franklin Zhao Liang, Co-Founder and President of Qashier, said, "In a rapidly evolving business landscape, our goal is to provide our customers with a tech-forward solution that anticipates their needs."
Qashier aims to empower SMEs with digital solutions tailored to their unique needs. “Our mission is to empower small and medium-sized businesses with the tools they need to succeed,” stated Christopher Choo, Co-Founder and CEO of Qashier. The company plans to continually innovate to meet the growing demands for user-friendly digital payment and point-of-sale (POS) solutions.
Since its inception in 2019, Qashier has processed over $1 billion in transactions and empowered over 6,000 businesses across Southeast Asia. In February 2023, Qashier launched a freemium app, achieving over 12,000 downloads within three days of its public beta release. Furthermore, the company rolled out QashierX2, its latest flagship smart POS terminal, along with the lightweight and portable QashierXS, both boasting integrated capabilities on a single device.
Impact on the Event Industry
Qashier’s advanced solutions have also disrupted the events industry, offering customizable, cashless solutions across various prominent events in the region, including SneakerCon, Gastrobeats, and the BLACKPINK concert. These moves illustrate the company’s expansive capabilities and adaptability.
"We believe that Qashier has a substantial opportunity to become a leading multi-product provider for SMEs in the APAC region,” said Alex Browne, Principal at Delivery Hero Ventures. Many restaurant partners currently rely on disjointed, expensive software solutions, creating a ripe market for Qashier’s all-in-one platform.
With four operational offices across Southeast Asia and an aggressive R&D investment strategy, Qashier is set to continue scaling its innovative solutions for businesses in the region and beyond.
The $10 million Series A funding for Qashier marks a pivotal moment not just for the company, but for the larger fintech and POS sectors in Southeast Asia. As the demand for efficient, transparent, and user-friendly business tools grows, Qashier's recent investment round offers a compelling indicator of the industry’s trajectory, providing both investors and SMEs promising avenues for engagement and growth.