Singapore-based Weeloy, a technology and marketing solutions provider catering to restaurants, said it had closed a $3.6 million funding round led by FirstFloor Capital, a Malaysian venture capital investment firm specialising in high-growth technologies.
According to the company, proceeds from the round will fund further development and enhancement of the technology and product offering, aggressive marketing, as well as expansion into new markets that include Thailand, Hong Kong, Malaysia, Indonesia and others.
FirstFloor Capital invests mainly in high-growth and technology companies in industries ranging from information technology, hardware, software, services, Mobile, Internet and IoT. It manages several proprietary venture capital (VC) and private equity (PE) funds that consist of privately-owned funds, as well as institutional funds.
Weeloy said its offering was built on three pillars: a B2B back office suite of SaaS products, a B2C site with enhanced social promotion tools to help restaurants generate awareness and increase bookings, and agency and marketing solutions, including a social media advertising managed service offering.
The startup, in a statement, described its key differentiator as being a full-stack solution that offered an integrated platform for restaurants to “optimise operations, eliminate admin redundancies and consolidate, manage and leverage data from all channels.” Additionally, Weeloy also said it could operate as a white-label technology solution, with the power to operate as a back-end for a brands own front-end solution.
Soraya Kefs, Weeloy’s co-founder and CEO, said, “The key to success for any business in the Information Age is managing and utilising data. Our platform is the only technology in this space today that provides restaurants with the tools to efficiently manage all of the data flowing in and out of the business, enable them to operate more efficiently, manage their reservations, build a robust database, do targeted marketing, create loyalty programs and track repeat customers.”
“All of this, ultimately, enables the restaurant staff and management to focus on their core business, which is to provide a better experience for their customers,” she added.