Eatsy, a food ordering and payment mobile app, on Tuesday announced that it has raised $550,000 in a seed funding round led by early-stage venture capital firm East Ventures.
Several angel investors including Goh Yiping, who used to run MatahariMall and AllDealsAsia, also participated in the round, according to an official announcement.
Eatsy allows diners to order ahead and pay at their favourite local eateries and coffee shops so that their orders are ready to pick up when they arrive.
The startup has raised more than $1 million in funding from investors including East Ventures, Quest Ventures, Wee Teng Wen (Lo&Behold) and the three co-founders of RedMart.
“With the access to new capital, we look forward to further development in technology, product expansion, and acquisition of new talents in 2019. Furthermore, Eatsy plans to cement its position as a leader in the mobile order-ahead and pick-up space in Singapore” said Eatsy co-founder and CEO Shaun Heng.
East Ventures managing partner Willson Cuaca said, “Omni-channel is an important strategy for SME to thrive in the digital era. In F&B, which is a market of $100 billion with annual growth of 2.65 per cent in SEA, the potential can expand through the capacity to seamlessly process orders both from walk-in and digital.”