Online restaurant platform secures more funding
Asian online restaurant platform the Chope Group receives US$8 million in an investment round led by F&H Fund Management, a leading Asian investment firm, along with NSI Ventures, the venture arm of US$1.8B Northstar Group. Prior to this, the company had raised US$3.5 million since its launch in 2011, making this latest round its largest ever.
Chope enables users to make instantly confirmed reservations and queue through Ticktok ? a recent integration allowing Chope to be a full service solution to busy restaurants ? via their phones. Chope also provides marketing services to restaurants in Singapore, Hong Kong, Shanghai, Beijing, and most recently Bangkok. The company has grown at a rapid pace, more than doubling revenue and seating over 20 million diners to date.
?As demonstrated by their remarkable growth, Chope’s service provides real value to both diners and restaurant operators,? says John Wu, chairman of F&H Fund Management and former CTO of Alibaba Group. ?We hope to help Chope expand its platform to more Asian cities, and accelerate the company’s pace of product innovation.?