Choice QR closes a €700,000 pre-seed round
Choice QR, a startup with offices in Ukraine and the Czech Republic developing QR menus, as well as delivery and takeaway services for restaurants and other establishments, has raised €400,000 in its pre-seed financing round. The total size of the round amounted to €700,000. The company made its first investment of €300,000 from its own money and investors’ funds. The startup did not disclose the name of the investment firm.
The company plans to close a €5 million round soon.
“We can see how rapidly similar startups are growing in the United States and Australia. The niche is gaining momentum. We have pretty good traction, and we were the first. We are creating an all-in-one solution for restaurants, which will combine menus, delivery, payment, and reviews. This is our competitive advantage over similar services, like Expirenza, which has been recently acquired by monobank,” said Vladimir Olyanitsky, co-founder of the startup and general manager for Eastern Europe.
- The company now has 5,000 signups, 30% of which have subscribed. Choice QR already operates in 25 countries. The largest markets are in Ukraine and the Czech Republic.
- The startup will use its investments to expand its functionality, strengthen its presence in existing markets, and expand into new ones. Choice QR plans to launch a QR-code payment feature, as well as a table booking feature.
- Now the company has two offices in Ukraine and the Czech Republic. Altogether they employ about 35 people.
The SaaS startup Choice QR was launched at the end of last year. The co-founders are Alex Ilyash and Vladimir Olyanitsky. Its starting capital was 150,000 euros.