Estimated 2mil businesses in Thailand, M’sia, Philippines to onboard still Platform akin to having 10 extra staff that work 24/7 with zero errors Southeast Asian startup StoreHub, a nine year-old platform that enables restaurants and retailers to automate and grow their business, has raised US$13.5 million (RM60.7 million) in a pre-Series B fundraising round led by 500 Global with participation from existing investors Vertex Ventures Southeast Asia & India, OSK and others.
Estimated 2mil businesses in Thailand, M’sia, Philippines to onboard stillSoutheast Asian startup StoreHub, a nine year-old platform that enables restaurants and retailers to automate and grow their business, has raised US$13.5 million in a pre-Series B fundraising round led by 500 Global with participation from existing investors Vertex Ventures Southeast Asia & India, OSK and others.
“With ‘revenge travel’ and ‘revenge dining’ continuing to drive consumer behaviour in Malaysia and across the region, retail and F&B business owners are looking for ways to improve operational efficiency and maximise their revenue per customer. Our platform automates ordering, payments, and customer engagement. It’s like having 10 extra staff members that work 24/7 for you with zero error.
“Here in Malaysia, we have seen businesses transform themselves to adapt to the new normal. Labour shortages and more demanding and digitally-savvy consumers have increasingly impacted the industry with restaurants and Mamak eateries especially being hit hard in recent times. With this, it has become even more critical for businesses to integrate technology into their operations,” Fong added.
“Considering similar companies like Toast are valued at US$10.13 billion , StoreHub already has approximately a quarter of Toast’s customer size with another estimated 2 million more potential businesses in Thailand, Malaysia, and Philippines to onboard. This in turn creates the playbook for “rest of world”. We believe StoreHub creates incredible value for so many more SMEs,” Khailee enthused
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