Fast escalating fintech start out-up ePOS Hybrid passes target in minutes
A hospitality tech firm has smashed its most recent pre-series A funding spherical right after hitting a £500,000 objective in just 15 minutes of heading publicly live.
Delighted bosses at ePOS Hybrid are now extending the crowdfunding prospect, upping the focus on to a utmost of £2m and providing customers of the general public a chance to get involved.
The technology get started-up, which released in Edinburgh and also has an place of work in London, has grown fast in the past two a long time, with its successes catching the eye of investors.
Bhas Kalangi, the computer system scientist and serial entrepreneur who established the company, claimed “This has blown absent our anticipations and is a real tribute to almost everything the group has attained in the past two yrs.
“Despite the pandemic getting significant impact on the hospitality sector, our engineering has scaled impressively in the previous 24 months with a 400% increase in our customer foundation and 2000% enhance in the volume of transactions getting processed by our platform.
“We realized the crowdfunding spherical experienced big probable, due to the fact of the curiosity and discussions we’ve been having with buyers over the earlier six months. It is reassuring to see that interest has turned into monetary backing.
“We could merely close the funding spherical now, but we know there are nonetheless numerous personal and more compact scale investors who would appreciate to be concerned, especially as the upcoming phase of our growth will be to scale internationally.
“Therefore, we are going to prolong the crowdfunding process to mid-June. It could be bold to set the new concentrate on at £2m but it feels like the proper time to set the bar significant.”
The latest investment decision possibility is remaining offered by means of the revered Crowdcube system – exactly where ePOS Hybrid has enjoyed prior good results. The firm’s first seed funding spherical took position on Crowdcube in early 2020, when it realized 145% overfunding, smashing the first £250,000 goal.
ePOS Hybrid offers a suite of absolutely-related level-of-sale, fintech and electronic purchasing remedies for hospitality organizations. The firm’s technology can automate a bar, restaurant or takeaway’s functions and streamline almost everything from buyer buying to stock control and kitchen administration.
Its a variety of plug and enjoy features, like issue of sale (POS), functions management and electronic buying methods, all do the job collectively seamlessly on a solitary platform.
By empowering prospects to create new gross sales channels, improve performance and reduce third social gathering commission prices, the firm has aided hospitality companies help save £1.6 million on third get together commissions by itself, like foods shipping providers, in the past two decades.
Throughout the past two many years, ePOS Hybrid’s technologies has processed a lot more than £97 million of transactions for Uk organizations, has expanded their person foundation to in excess of 900 United kingdom destinations and more than 7.5 million individuals have applied its products to order a meal or acquire a round of beverages.
The firm has a amount of interesting new products in development which are scheduled to launch in the months forward. The secured financial commitment will empower ePOS Hybrid to roll out its tech to a lot more enterprises in the Uk, assist international growth into new territories, this kind of as India, and allow more innovation.
To locate out additional about ePOS Hybrid and its range of hardware, software package and payment systems, go to the ePOS Hybrid site.