础听mobile听platform听for听ordering and paying in restaurants and bars听has raised听拢4.4 million听in a pre-Series A听round听led by West Hill Capital.听
Entering the market long听before听COVID-19听hit,听London-based听Wi5听says it was听at the forefront of delivering digital menus in restaurants, bars and caf茅s via web-apps.听
The start-up was听quick to sign hundreds of hospitality venues, including听enterprise听brands such as Pho,听Boxpark听and Urban Pubs & Bars.听听
The latest raise will be invested in accelerating the development of its data-driven product offering, while growing its UK market share and building on early success in the US.听
Wi5 is designed听to boost profitability by improving operational efficiencies and increasing frequency and average value of orders.听It says听100% of sales, both on and off-premise, can go through mobile, providing frictionless and intuitive experiences for customers and operators.听
Barriers such as high costs听and limited technical expertise previously meant top-quality hospitality technology was only accessible to global enterprise brands. Wi5 is addressing a gap in the market, placing advanced customer targeting and profitability optimisation within the reach of听all operators.听
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Already gaining traction听in key cities such as Texas and Miami, Wi5鈥檚 international expansion will initially focus on the US, where it expects revenues to overtake those from the UK within 18 months.听
Wi5鈥檚 senior team has a听track record of rapid growth and US expansion. Alberto听Menolascina听has been on the board since 2019 and, having left dark kitchen giant, Reef, where he served as Chief Growth Officer, has started the much talked-about grocery delivery听start–up, Dija, which recently听raised a 拢20m Seed with Blossom Capital,听Creandum听and Index Ventures.听
鈥淔or too long, so many SMEs 鈥� representing 80% of the hospitality industry 鈥� have been excluded from the benefits of modern sales technology due to the unit economics and requisite technical expertise,鈥� said founder and CEO听Prask听Sutton.听听
鈥�We strongly believe there鈥檚 another听way and our product听offering听and commercial model proves that.听听
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鈥�In a market worth $47听billion, we鈥檙e providing an advanced sales platform and card processing solution at a cost below the most popular payment-only services.鈥�听
鈥淚鈥檓 delighted听West Hill followed on to lead this round. Their further financial backing represents a great vote of confidence in the acceleration of our business.听听
鈥�This puts us in a fantastic position to capitalise on the wealth of data mobile听鈥榦rder听and听pay鈥�听is generating and听further increase the profitability of our operators.鈥�听