UAE-based fintech startup Qlub has raised $25 million in its latest funding round, bringing its total fundraising to $42 million.The seed round was co-led by Cherry Ventures and Point Nine with participation from other global venture capital firms, including STV, Raed Ventures, Heartcore, Shorooq Partners, FinTech Collective, and several angel investors.
Founded in 2021, Qlub allows customers to instantly pay their bills in restaurants within 10 seconds by scanning a QR code with their phone, even without an app or any registration, which increases table turnover, tips for waiters, and returning customers.
According to the company,the new round was supported by existing and new investors, including the global investment firm Al Dhabi Capital and major family offices in the UAE,.
The startup aims to use the proceeds to fuel growth as well as develop and launch new services for restaurants and customers who already use Qlub, it added.
Established in 2021, Qlub enables customers to instantly pay their bills in restaurants within 10 seconds by scanning a QR code with their phone, even without an app or any registration, which increases table turnover, tips for waiters, and returning customers.
In addition, customers can split the bill with their friends and pay it with Apple Pay, Credit Card, or in installments, which will be available soon.
The fintech has over 2,000 restaurants, including Eataly, Paul, Bateel, Huqqa, Blacktap, Günaydin, Al Safadi, Entrecôte de Paris, Mado, Nolus, Leila, Lavash, Ilbaretto, Zooba, Merci Marcel and Em Sharif. Currently has operations in six countries with a notable presence in the UAE, Saudi Arabia and Singapore.