Qashier Secures $6.125 Million in Series A+ Funding
Qashier, a Singapore-based company offering an all-in-one point of sale (POS), payments, and loyalty platform for businesses, has successfully raised $6.125 million in a Series A+ funding round. This round was spearheaded by Cocoon Capital and saw participation from IFP Securities and BlackSoil Global.
Expansion Plans and Innovations
The funds raised will primarily be directed towards expanding Qashier's reach across Southeast Asia. The company aims to enhance its offerings by developing omnichannel payment solutions and broadening its range of embedded financial services. Additionally, Qashier plans to integrate AI-enabled insights and workflow automation to cater to larger businesses with multiple outlets in various sectors, such as food and beverage and beauty and wellness.
Aiming for Growth
Qashier has made significant strides over the past year, processing $1 billion in annualized payment volume for over 20,000 merchants in countries including Singapore, Malaysia, Thailand, and the Philippines. The company also reported a 61% increase in annualized recurring revenue. These advancements have been achieved with less than $20 million raised to date.
Leadership and Vision
The company was co-founded by Christopher Choo and Franklin ZHAO Liang. Their leadership has been pivotal in driving the company's growth and innovation in the competitive fintech landscape of Southeast Asia.
Future Prospects
Qashier is gearing up for a Series B round to further its growth ambitions. The company's comprehensive platform integrates payments, business software, customer relationship management (CRM), and embedded financial services. It offers over 50 integrated modules, including ordering, inventory management, and automated marketing, supporting more than 20 regional payment methods such as cards, QR codes, e-wallets, and buy-now-pay-later options.
Qashier's end-to-end payments stack, which includes know-your-customer (KYC) processes, payment processing, payouts, and cross-border settlements, positions it well for continued expansion and adaptation to the evolving needs of businesses in the region.
With the latest infusion of capital, Qashier is poised to strengthen its presence in Southeast Asia, offering robust solutions to empower businesses in managing their operations more effectively.