Singapore-based fintech startup Qashier announced Wednesday that it has secured $10 million in a Series A funding round.

Qashier said in a statement that 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.

It said Antler Elevate and Cocoon Capital also participated in the round.

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 said that with its innovative solutions and commitment to merchant success, the firm is well-positioned to continue leading the way in the rapidly evolving world of digital payments and point-of-sale (POS) solutions.

According to the statement, 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.

“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,” he added.

Meanwhile, Qashier Co-Founder and Chief Executive Officer Christopher Choo said that this new round of funding will allow the firm to continue to innovate and expand its reach.

“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,” he said.

Qashier is a Singapore-based fintech startup that readies businesses for the digital economy by empowering them with one integrated smart point-of-sale and payment solution.

Trusted by businesses of all sizes in a variety of industries, from retail, food and beverages (F&B) to beauty, events and service industries, Qashier said its focus on providing affordable, user-friendly tools, has earned it a reputation as one of the most innovative and reliable POS and payment providers in the region.

Since the company’s inception in 2019, Qashier has processed over $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 QashierX2, 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.

It is noted that Qashier’s latest offerings for event management have been a game-changer for the events industry, providing a comprehensive solution that can be customized 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.

“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.

According to him, many of the restaurant partners globally use siloed software tools in their operations, which are often expensive and don’t interact with each other, and Qashier’s end-to-end solution enables restaurants to focus on serving their customers and growing their business.

Qashier said the firm continues to grow, and currently has four offices across Southeast Asia: Malaysia, the Philippines, Thailand, and Singapore.

It said the firm plans to continue investing in research and development to deliver more innovative solutions to businesses in the region and beyond.

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