Dubai-headquartered fintech innovator Qlub has successfully closed a significant $30 million funding round, marking a pivotal moment in its mission to revolutionize the global restaurant payment landscape. The substantial investment, backed by prominent regional powerhouses including Shorooq Partners, e& capital, and Mubadala, underscores strong confidence in Qlub’s disruptive technology and its rapid international expansion. This capital injection is set to accelerate Qlub’s geographical reach and enhance its suite of AI-powered solutions, further solidifying its position as a leader in optimizing the dining experience for both diners and restaurant operators.
By the Numbers
- Funding Secured: $30 million
- Total Payments Processed to Date: Over $1 billion
- Year-over-Year Transaction Growth: 20x
- Active Markets: 10 countries across MENA, Europe, and Asia
Strategic Investment and Global Ambition
The $30 million financing round represents a strategic endorsement from some of the region’s most influential investors. The participation of Shorooq Partners, e& capital, and Mubadala not only provides critical capital but also strategic expertise and extensive networks, empowering Qlub to pursue its ambitious global expansion plans. This investment signals a collective belief in Qlub’s potential to become a dominant force in the global hospitality tech sector, leveraging its UAE base as a springboard for international growth.
Innovating the Dining Experience
Qlub’s core offering is a seamlessly integrated QR code-based mobile payment platform designed to transform the restaurant experience. By enabling diners to effortlessly view, split, and pay their bills directly from their smartphones, Qlub significantly reduces friction points, leading to faster table turnover for restaurants and a more convenient, enjoyable experience for customers. This innovative approach addresses key operational challenges faced by the hospitality industry, enhancing efficiency and customer satisfaction simultaneously.
Driving Remarkable Growth
Since its inception, Qlub has demonstrated an impressive trajectory of growth and adoption. The company has facilitated over $1 billion in payments to date, reflecting the widespread appeal and effectiveness of its platform. This remarkable performance is further underscored by a staggering 20x year-over-year growth in transactions, showcasing the rapid acceleration of its business model across diverse markets. Qlub’s operational footprint now spans 10 countries, including key markets in the MENA region, Europe, and Asia, a testament to its scalable and adaptable solution.
Building a Visionary Leadership Team
Qlub’s success is also attributed to its robust and internationally experienced founding team. Co-founders Arjun Pillai, Nikita Nagornov, and Jeffrey de Wilde bring a wealth of expertise from diverse backgrounds, including fintech, technology, and hospitality. Their collective vision and leadership have been instrumental in steering Qlub through rapid growth and establishing it as a pioneer in the restaurant tech space.
About Qlub
Headquartered in Dubai, UAE, Qlub is a leading fintech startup dedicated to revolutionizing payments and operations in the hospitality sector. Through its innovative QR code-based mobile payment solution, Qlub empowers restaurants to enhance efficiency, increase table turnover, and improve the overall dining experience for their customers. The company operates across multiple international markets, providing a seamless and secure payment infrastructure that benefits both businesses and consumers.
Looking Ahead
With the new capital, Qlub is poised to accelerate its strategic initiatives. The company plans to significantly expand its presence into new geographical markets, bringing its transformative payment solution to more restaurants and diners worldwide. Furthermore, Qlub will invest heavily in product development, including the introduction of new value-added services such as advanced payment options, loyalty programs, and targeted marketing tools. A key focus will be on leveraging artificial intelligence to derive deeper insights into customer behavior, enabling restaurants to personalize experiences and optimize their offerings further. This funding positions Qlub to continue its trajectory as a frontrunner in hospitality innovation.
Source: Wamda
