Payment system for restaurants Qlub has announced that it has obtained USD 30 million in funding, aiming to leverage the capital to expand its operations globally.
Co-led by Shorooq and Cherry Ventures, the funding round also saw participation from e&, Mubadala Investments, and Legend Capital. With the newly acquired capital, Qlub seeks to scale its operations beyond its current markets, aiming to deliver its dining payment system worldwide.
Qlub’s expansion strategy
This funding round underlined the increasing demand for simplified, technology-enabled dining experiences and is set to enable Qlub to accelerate its global expansion, improve its product offerings, and further integrate its solutions into the hospitality industry. Since the start of its operations in 2021, the company has been focusing its efforts on growing its capabilities, now offering QR-based solutions that allow diners to view menus, place orders, and settle bills utilising their smartphones. By mitigating the need for physical menus and traditional payment methods, Qlub intends to augment operational efficiency for restaurants while facilitating an optimal experience for customers.
Currently, Qlub’s services are leveraged by establishments across the UAE, Saudi Arabia, Singapore, Hong Kong, Australia, Brazil, Qatar, Kuwait, and Korea. According to company data, through its solutions, clients can simplify the checkout process, minimise labour costs, and decrease the number of required cashiers while overall improving space utilisation by reducing the need for multiple cashier counters.
Furthermore, the new capital infusion will support Qlub in growing its presence in existing markets and entering new regions, augmenting its product offerings by integrating advanced analytics and insights to offer restaurants a deeper understanding of customer behaviour and preferences, as well as solidify partnerships with participants in the hospitality and technology sectors to drive the adoption of contactless payment solutions. The company emphasised its commitment to continuing to grow its capabilities, serving the needs, demands, and preferences of clients and their customers.
