In a statement released today Singapore F&B tech startup, Eatsy, has raised S$550,000 in funds to expand merchants base and in-app offerings.
The round is led by Quest Ventures, and other participating investors include 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 is backed by Quest Ventures and Enterprise Singapore under the Startup SG Founder grant, where they had previously received S$30,000 in funding after initial inception.
This new injection of funds will help them automate ordering and payment with their partner merchants, which is in line with our Prime Minister’s goal for Singapore to be a cashless society.
James Tan, managing partner at Quest Ventures, said, “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 optimise diner retention.”
Quick And Eatsy
The app is described as a collaborative order-ahead app that connects diners to restaurants and cafes in their area.
Diners can order the items they want through the menus in the app, hit ‘order’ and pay through the app.
The eatery will prepare the food ahead of time, and diners can simply collect their orders for dine-in or takeaway when they arrive.
So users can save time and skip queues.
Additionally, the unique ‘collaborative ordering’ feature allows users’ friends and colleagues to add their own food orders onto an existing order, which simplifies group orders.
The feature lets you pay in three ways: go dutch where users split the bill according to their orders, or split the bill equally, or let the table-creating host pay for the meal entirely.
Some of the busiest and renowned quick-service restaurants and coffee shops in Singapore are onboard Eatsy, allowing them to stay competitive.
Eatsy also acts as a channel to personalise their connection with customers.
Who Is Eatsy?
CEO and Founder of Eatsy, Shaun Heng had started out in investment banking, doing multiple internships in the industry to get as much experience as he can, according to Asian Entrepreneur.
He still couldn’t find fulfillment in what he did and left the industry in December 2014, and a “chance encounter” landed him a role in RedMart’s corporate development team.
Shaun told Business Times that in 2016, he bounced off the idea of Eatsy to Roger Egan, Co-Founder of RedMart, while in a cab stuck in Jakarta traffic.
Egan encouraged him to pursue his entrepreneurial dream and Shaun left RedMart by the end of 2016 to start up Eatsy.
Since Eatsy’s launch seven months ago, the app has over 80 merchants onboard including popular food establishments such as Tanuki Raw, Tap Craft Beer, and Park Bench Deli.
Find out more about Eatsy on their website here.
Featured Image Credit: Eatsy