SINGAPORE - Restaurant-booking app Chope announced on Monday (Oct 16) an S$18 million investment led by Square Peg Capital and joined by C31 Ventures and Moelis Australia, as well as existing shareholders, including SPH Ventures, NSI Ventures, Susquehanna International Group and DSG Consumer Partners.
The company plans to use the growth funding to build better products, enlist a larger sales force and enhance customer support.
Chope said it has more than 3,000 food and beverage clients across Singapore, Hong Kong, China, Indonesia and Thailand using its suite of technologies to manage bookings, queues, customer relationship management, promotions and pre-payments.
Despite being founded in Singapore six years ago, over 60 per cent of Chope's restaurants are now in other cities, with its fastest growing operations being in Shanghai, Hong Kong and Indonesia.
Said Tushar Roy, partner at international venture capital firm Square Peg Capital: "We are impressed by Chope's success in capturing a leading position in Asia's most attractive, growing dining markets in the premium dining segment. Chope offers a compelling service to both restaurants and diners, and we are excited to contribute our expertise and capital to substantially expand the business."