Technology investment firm Movac has led a $5m funding round into Wellington based company Mobi2Go, which provides digital ordering and engagement systems for a number of well-known brands in New Zealand and Australia.
Movac partner Mark Vivian — who will join the Mobi2Go board — said Movac had invested in Mobi2Go on the strength of “the quality of the team, their technology and the rapidly-changing nature of the industry that they operate in.”
Mobi2Go says its cloud-based software integrates with point of sale and payment gateway systems to help restaurant owners and managers reduce wait times, streamline operations, encourage customer loyalty, improve the overall customer ordering experience and increase revenue.
Brands that use Mobil2Go include Burger Fuel, Pita Pit, Tank Juice, Mad Mex, Sumo Salad and Little Caesars Pizza.
Mobi2Go founder and CEO Tarik Mallett said most of the company’s customers were getting at least 20 percent of their revenue through Mobi2Go within three to six months of launching.
According to Mallett Mobi2Go allows both large and small hospitality businesses anywhere in the world to offer innovative, integrated and branded ordering solutions to their customers without large upfront costs or specialised expertise.
He said Mobi2Go was now looking for people to join the company in New Zealand, Australia and a soon to be opened North American office to keep-up with the growing global demand.
Prior to this funding round the Punakaiki Fund held a 19.6 percent share of Mobi2Go. It says the company “allows food service businesses to save time and increase revenue by accepting orders straight into the business’ point of sale system.”
“Customers can order and pay for menu items and even select a time to pick it up fresh from the kitchen. Mobi2Go allows clients across the hospitality sector to deliver a branded experience that they can control. Their system integrates with major point of sale systems, and is especially suited to clients with multiple branches.”