Hospitality tech firm ePOS Hybrid has launched a crowdfunding campaign, aiming to raise £500,000 for its “aggressive” expansion plans.
The company has seen demand from investors grow by 145%, with its first round passing its £250,000 target.
Founded in Edinburgh by computer science graduate and serial entrepreneur Bhas Kalangi, ePOS Hybrid offers point-of-sale, fintech and digital ordering solutions for hospitality businesses of all sizes.
The firm’s technology can automate a bar, restaurant or takeaway’s operations and streamline customer ordering to stock control and kitchen management.
The firm has a number of new products in development and scheduled to launch this year.
The investment will be used to roll out its tech to more businesses in the UK, support international expansion into new territories such as India, and enable further innovation.
In the past 24 months, the platform has processed more than £94m for UK businesses – a 2,000% increase since its last investment round – according to head of growth Andrew Gibbon.
He added that the company has seen its customer base grow by 400% and its tech is in more than 890 locations in the UK, processing more than £6.7m in sales per month.
Gibbon commented: “The advances we have made since our last crowdfunding success are game changing and our second round is already highly-anticipated, with overwhelming demand already being seen from both existing and new investors.
“From our discussions with key investors over the past six months, no one wants to miss out, it seems that everyone is really excited to be part of our next round.
“However, this also represents a great opportunity for interested members of the public who missed out on our first round, to join us on our exciting journey as we begin scaling internationally.”
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