Singapore – Singapore’s F&B technology start-up, Eatsy Technologies has raised S$550K, led by Quest Ventures, to accelerate merchant acquisition and optimise app development. Other participating investors included Wee Teng Wen, founder of The Lo & Behold Group, as well as, Roger Egan III, Vikram Rupani, and Rajesh Lingappa, co-founders of RedMart.
Eatsy Technologies, the firm behind dining app Eatsy, is backed by Quest Ventures and Enterprise Singapore under the Startup SG Founder grant, where they previously received S$30,000 in funding after initial inception. The company will be using this new round of fresh funding to further develop existing in-app functions and partner new merchants, in a bid to automate ordering and payment with their partner merchants. This is in alignment with Prime Minister Lee Hsien Loong’s longstanding call to promote “going cashless” at a national level.
Eatsy is a collaborative order-ahead app that connects diners to the best restaurants and cafes in their area. Diners can then order the items they want through in-app e-menus, hit order and pay through the app. The restaurant will prepare the food ahead of time, and diners can simply collect their orders for dine-in or takeaway when they reach. This efficient process allows diners to save time and skip queues. Additionally, the unique ‘collaborative ordering’ feature of Eatsy gives friends and colleagues the ability to add their own food orders onto an existing order, which simplifies group orders.
Eatsy Technologies was founded in September 2017 by CEO Shaun Heng, who formerly worked in Corporate Development at RedMart. The collaborative order-ahead app aims to partner with the best and busiest quick service restaurants and cafes in Singapore to give them a competitive and technological edge to drive up profitability, and also provide a more personalized way to connect with their customers. Notable names in Eatsy’s current list of the merchants include crowd favourites – Tanuki Raw and Park Bench Deli. To date, Eatsy has also seen an impressive gross transaction value growth of 80% month-on-month.
“Imagine it is lunch time and you are helping to order take-away for your colleagues. With the app, you don’t have to jot down everyone’s orders and queue anymore. Just add your friends in the app – they “piggyback” onto your existing order and send it through. The restaurant will start preparing your orders, so just head downstairs for collection once it’s ready. This ‘collaborative ordering’ saves a lot of time for customers and drives incremental orders for merchants.” says Mr Shaun Heng, Founder and CEO of Eatsy Technologies. “Our mission is to make mobile ordering and payment the new way of life when dining out.”
James Tan, managing partner at Quest Ventures, also expressed, “We were impressed by Eatsy’s unique proposition to transform the dining experience for millennials, while supporting local dining establishments in the digital wave to better optimize diner retention.”
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Eatsy is an app that allow diners to order-ahead and pay at their favorite local eateries and coffee shops, such that their orders are ready to pick up when they arrive. Additionally, the unique ‘collaborative ordering’ feature of Eatsy gives friends and colleagues the ability to add their own food orders onto an existing order, which saves time for customers and drives incremental orders for merchants.
The best and busiest quick service restaurants and coffee shops in Singapore are using Eatsy to give them a competitive and technological edge to drive up profitability, and also to provide a more personalized way to connect with their customers. Since Eatsy’s launch 7 months ago, the app has over 80 merchants onboard including crowd favourites such as Tanuki Raw, Tap Craft Beer and Park Bench Deli.
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About Quest Ventures
Quest Ventures is a leading venture fund for companies that have scalability and replicability in large internet communities. The team has extensive networks in China and Southeast Asia. By the end of 2017, Quest Ventures’ portfolio of 30+ venture-backed companies operate in more than 150 cities across Asia, creating employment and advancement opportunities for more than 4,400 employees. Their portfolio companies include industry leaders such as 99.co, Carousell, Carro, Ethis, MGAG/SGAG, Shopback, VulcanPost, and Xfers.
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How Eatsy Works
Eatsy is a user-friendly mobile app that allows diners to order and pay when dining out. It features 3 different payment options which enable diners to go dutch and pay only for the items they ordered, split the bill equally or allow the table-creating host to pay for the meal entirely.