Qashier, a payments system provider based in Singapore, has secured US$10 million in a series A round co-led by Delivery Hero Ventures and IFP Securities.
The funding will help the startup expand geographically, bolster its operations in existing markets, and enhance its product offerings. Besides Singapore, the startup offers its services in Malaysia, Thailand, and the Philippines.
- Funding amount: $10,000,000
- Lead investors: Delivery Hero Ventures, IFP Securities
- Other investors: Antler Elevate, Cocoon Capital
- Stage: Series A
Qashier helps businesses simplify their operations through its point-of-sale system offering, allowing clients to better manage inventory and staff, process payments, and enable contactless QR transactions. The startup recently released an app that offers a free POS and payment solution.
The firm said that since its launch in 2019, it has served over 6,000 businesses across the region and handled more than US$1 billion worth of transactions.
The growth of Southeast Asia’s POS terminal market is still in high gear. According to data from Mordor Intelligence, the industry’s market size is expected to double in 2028 to US$7.7 billion compared to this year.
Another company looking to capture more of this market is Fazz, which raised US$100 million in a series C round late last year.