We are very happy to announce our latest investment — Mobi2go, where we have invested up to $1 million — with $500,000 invested immediately and an additional $500,000 only if and after we raise a certain amount of additional funds.
Mobi2go helps food service businesses sell more by adding an ordering function to their marketing website. Customers can order their food and beverages online and either pick up in person at the restaurant, or, in some cases, arrange delivery. Mobi2go integrates with many POS systems and generally sends the order directly to the kitchen. The customer turns up, picks up the food (which has their name on it) and walks away — having already paid. It’s a winner — saving time for the customer and increasing same-store sales, often by 20%, without adding front of house staff for the restaurant.
I was introduced to Tarik Mallet, the founder and CEO of Wellington-based Mobi2go, by Raygun’s John-Daniel Trask, and we are very happy to also see that JD is now joining the board. JD has already been informally advising Tarik, and we are very impressed at the level of professionalism shown by Tarik and the small and frugal Mobi2go team.They have put together systematic processes for product development and for selling, and this funding will allow them to expand capacity to address their markets locally and offshore – including in Ireland, where they have made some good progress.
The press release is below:
Investors back Mobi2Go with $1.1m
Mobi2Go, a leader in digital ordering solutions for hospitality, is set to expand after today announcing it has raised up to $1.1m of new investment to further accelerate the company’s already impressive growth and customer success.
Chief Executive Tarik Mallett says the funding “is a great vote of confidence in Mobi2Go’s vision to be recognised as a leader in digital ordering. The investment will allow us to continue to build on existing international growth and further expand our team of ten currently based in Wellington”.
With traction building from Australasia, Europe and the United States, Mallett says that the recent opening of the Mobi2Go Melbourne office and efforts over the last 6 months to build the foundations for scale have all been leading up to this moment.
“Our clients love the flexibility of Mobi2Go and in most cases are driving 20% or more of their revenue through Mobi2Go within three to six months of launching. Mobi2Go allows hospitality businesses large and small anywhere in the world to offer innovative ordering solutions to their customers without large upfront costs and specialised expertise. Now with some serious fuel in the tank we are excited to take things to the next level.”
The round was led by Punakaiki Fund, committing up to $1m of investment, with existing investors taking the remainder. Mallett says it’s a huge endorsement to have Lance Wiggs and Chris Humphreys from Punakaiki Fund join the Mobi2Go journey. With their existing investments in Raygun.io, Timely, Vend and others, they have a strong understanding of SaaS businesses and what’s required to accelerate growth on a global scale.
“We are also pleased to welcome John-Daniel Trask, CEO of Raygun.io to our board as an Independent Director. John-Daniel’s business acumen and knowledge in building a fast growing SaaS business will be invaluable as we grow.”
We are now focused on finding the right calibre of people to join our team both in New Zealand and Australia and to keep-up with the growing demand.