Digital payments start-up wi-Q has secured a £3m investment from Manchester-based venture capitalist Praetura Ventures.
Founded in 2014, wi-Q provides mobile ordering and payment solutions for the hospitality and leisure industry to help its customers improve efficiency and enhance the guest experience.
Headquartered in Manchester with offices in London and the Middle East, Wi-Q will focus its efforts on expansion in the US and Asia Pacific.
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Demand for Wi-Q services has grown due to increased focus on digitization in the hospitality sector, which has been accelerated by the impact of the Covid-19 pandemic on consumer habits.
Its services include Dash, a platform that allows hospitality centers to manage online food and beverage orders in real time, and Enterprise, a platform that allows customers to order and pay for food and beverages via their smartphone.
Wi-Q also helps restaurants and hotels speed up order management, preparation and delivery, and provides remote ordering technology so customers can order through in-store kiosks.
The wi-Q team has customers in more than 30 countries, including some of the world’s largest hotel chains, quick service restaurants and home delivery brands.
Paynes Tucker, CEO of wi-Q, said: “I am excited about what will be a very transformational phase for both wi-Q and hospitality technology.
“The global pandemic has accelerated both the demand and adoption of mobile ordering, and hotel brands will want to have much more than ordering features to give them a competitive edge.
“With this investment, we’re looking ahead to the next chapter in the convergence of technology for profit and digital engagement.
“The most innovative hospitality brands are already working with us to bring big data and artificial intelligence to their Wi-Q solutions to maximize guest experience and revenue opportunities.”
Since 2019, Praetura Ventures has backed over 28 companies, including North West-headquartered Culture Shift, XR Games and Peak.
David Foreman, managing director of Praetura Ventures, said wi-Q has a clear proposition for the leisure and hospitality sector.
“We can’t wait to work with Patiens and the team, and our experts at Praetura will do everything we can to support them as they grow,” he said.
“Our operating partners have helped grow the business around the world, so some of them will support the wi-Q team in their global plans as they expand their technology into new territories.”
Sim Singh-Landa, Tanya Rahman and Guy Weaver of investment group Praetura Ventures led the deal.
Praetura Ventures was advised by Hill Dickinson and Beyond MA.
Hospitality payments startup looks global after £3m investment