{"id":19982,"date":"2022-02-01T12:06:24","date_gmt":"2022-02-01T06:36:24","guid":{"rendered":"https:\/\/tradebrains.in\/features\/qlub\/"},"modified":"2022-02-01T12:08:16","modified_gmt":"2022-02-01T06:38:16","slug":"qlub","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/qlub\/","title":{"rendered":"Qlub Raises USD 17 Million in Seed Financing to Drive Future-Proof Restaurant Payments"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-366295868\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Their instant payment solution will further help restaurants adapt to and scale alongside growing contactless preferences between both business and customer sides  India \u2013 Business Wire India   Qlub, a startup developing an ultra-fast payment solution for consumers in restaurants, has raised $17 million in seed financing.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-62288181\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>  The investment is co-led by Cherry Ventures and Point Nine with participation from other global VCs including STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective as well as numerous strategic angels, including C-level executives of major players in the digital food industry such as Delivery Hero.<\/p>\n<p>  Qlub enables customers to instantly pay their bills in restaurants within 10-seconds by simply scanning a QR code with their phone \u2013 even without an app or any registration. Customers can easily split the bill with their friends and pay the bill with Apple Pay, Credit Card or in instalments (\u201cEat Now Pay Later\u201d). The benefit for restaurants is multifold, including higher turnover of their tables, higher tips for their waiters, and happier and returning customers. Ratings of restaurants on Google improve significantly.<\/p>\n<p>  On another level, Qlub\u2019s digital and contactless payment solution also helps restaurants and customers adapt to widespread situational preferences amplified by the global pandemic. Qlub cuts down on customer-to-employee and customer-to-customer interactions by eliminating physical transactions associated with passing menus and bills back-and-forth.<\/p><div class=\"trade-content_5\" id=\"trade-628158318\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>  \u201cHaving built multiple food delivery startups, I was baffled by how little the dine-in experience has improved by technology within the last two decades,\u201d says co-founder EyadAlkassar. \u201cSince the advent of credit cards, little to nothing has changed. The choreography around waiting for the bill is so avoidable and a waste of time for both customers and restaurants.\u201d   Eyad continues, \u201cBy combining two mega trends driven by the pandemic \u2014 QRs in restaurants and cashless payments \u2014 we are creating the payment function of the future. Our ambition is to establish Qlub as the new global standard and save restaurants and customers time and costs.\u201d   Filip Dames, founding partner at Cherry Ventures, says, \u201cAdapting to a self-checkout solution is a no brainer for restaurants as offline payments remain a barrier to turnover.  We are proud to support Qlub in its ambition to revolutionize the payment space for both restaurants and diners. The founders have put together a remarkable team and we are excited to take the first step in this journey with them.\u201d   The founding team members of Qlub are Arun Sharma, EyadAlkassar, Filiberto Pavan, GizemBodur, Jeff Matsuda, Jianggan Li, John Mady, Mahmoud Fouz, Oscar Bedoya, Amit Veer and Ramy Omar. They\u2019ve previously founded and scaled companies like Lazada, Namshi and Snapp. The growing Qlub team already comprises senior veterans from globally leading foodtech companies and top universities around the world. Together, they bring industry knowledge and technical know-how and are all motivated to solve a decades-old problem with technology-minded, future-proof solutions, the founders say.<\/p>\n<p>  Ricardo Sequerra Amram, partner at Point Nine, says \u201cWe\u2019re thrilled to back the founders of Qlub who are experienced operators in the food space. Qlub is building a win-win offering for consumers who want the freedom of cashless payments and the convenience of self-checkout as well as restaurant owners who, in a post-pandemic world, are even more mindful of compressing their fixed costs and allocating staff to revenue generating activities.\u201d   Qlub has already launched in UAE, KSA and India with additional international markets, set to follow in the weeks and months ahead. With Qlub, restaurants are already saving 16 minutes per table and can be fully onboarded in under 24 hours from initial touchpoints with Qlub.<\/p>\n<p>  \u201cGlobally, 1 in 3 consumers have begun using digital payments for the first time within the last year, while more than half (52%) said they transitioned all or most of their in-store spending to online,\u201d says Faisal Kawar, Principal at FinTech Collective. \u201cThe Qlub team have built, scaled, and sold successful businesses across the world, and are well-positioned to go after and grow the $5 trillion restaurants and hospitality industry worldwide.\u201d   The funding will primarily go towards product development and hiring across tech and product teams.<\/p>\n<p> About Qlub  Qlub is a global startup headquartered in Dubai, UAE which allows customers to pay their bill in restaurants within 10 seconds by simply scanning a QR code with their phone \u2013 even without an app. Furthermore, they can easily split the bill with their friends and later earn loyalty points. Restaurants will benefit from higher turnover of their tables and higher tips for their waiters.<\/p>\n<p> www.qlub.io https:\/\/www.linkedin.com\/company\/qlub-pay\/   About Cherry Ventures  Cherry Ventures is an early-stage venture capital firm led by a team of entrepreneurs with experience building fast-scaling companies such as Zalando and Spotify. The firm backs Europe&#8217;s boldest founders, usually as their first institutional investor, and supports them in everything from their go-to-market strategy and the scaling of their businesses. Cherry Ventures has previously invested in the seed stage of over 70 companies across Europe, including FlixBus, Auto1 Group, Infarm, Rows, Forto, and SellerX. Cherry Ventures is based in Berlin and invests across Europe with operations in London, Paris, and Stockholm. For more information, visit https:\/\/www.cherry.vc\/   About Point Nine  Founded in 2011, Point Nine is a European early-stage venture capital firm focused on B2B SaaS and B2B marketplace startups in Europe and North America. The firm is a seed investor in more than 150 companies in over 30 countries, including Algolia, Brainly, Chainalysis, Clio, Contentful, Delivery Hero, DocPlanner, Front, Loom, Mambu, Revolut, Sqreen and Typeform amongst others. Point Nine has one of the highest \u201cseed-to-winner\u201d rates of the industry.<\/p>\n<p>  About FinTech Collective  FinTech Collective is a global venture capital firm backing entrepreneurs who are rewiring the way money moves through the world. Founded in 2012 and based in New York City, the firm has deep experience investing across capital markets, wealth management, banking, lending, payments, insurance, and DeFi. Backed by some of the world\u2019s leading institutional investors, FinTech Collective manages over $750m in assets and has invested in 70 portfolio companies. The managing partners of FinTech Collective met in their mid 20\u2019s and helped build, scale, and successfully exit four fintech businesses. A weekly newsletter is available at fintech.io\/newsletter.<\/p><div class=\"trade-content-10\" id=\"trade-4242153959\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>  PWR PWR<\/p>\n<div class=\"trade-after-content\" id=\"trade-3883649766\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Their instant payment solution will further help restaurants adapt to and scale alongside growing contactless preferences between both business and customer sides India \u2013 Business Wire India Qlub, a startup developing an ultra-fast payment solution for consumers in restaurants, has raised $17 million in seed financing. The investment is co-led by Cherry Ventures and Point [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-19982","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Qlub Raises USD 17 Million in Seed Financing to Drive Future-Proof Restaurant Payments - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/qlub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qlub Raises USD 17 Million in Seed Financing to Drive Future-Proof Restaurant Payments\" \/>\n<meta property=\"og:description\" content=\"Their instant payment solution will further help restaurants adapt to and scale alongside growing contactless preferences between both business and customer sides India \u2013 Business Wire India Qlub, a startup developing an ultra-fast payment solution for consumers in restaurants, has raised $17 million in seed financing. 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