Square Peg leads $13m round for Singapore's Chope

Additional participation came from C31 Ventures and Moelis Australia, as well as existing investors NSI Ventures, Susquehanna International Group, DSG Consumer Partners, and SPH Ventures. The capital will be used for product improvements, salesforce hiring and customer service enhancement.

"We are impressed by Chope's success in capturing a leading position in Asia's most attractive, growing dining markets in the premium dining segment,” Tushar Roy, a partner at Square Peg, said in a statement. “Chope offers a compelling service to both restaurants and diners, and we are excited to contribute our expertise and capital to substantially expand the business."

Founded in 2011, Chope claims to be the most widely used restaurant booking system in Asia, with more than 3,000 food-and-beverage clients across Singapore, Hong Kong, mainland China, Indonesia, and Thailand. More than 60% of the company’s business is now overseas.

Chope offers restaurants a suite of online-to-offline technologies to manage reservations, queues, customer relations, promotions, and pre-payments. The service is said to provide real-time information faster and more accurately because restaurants rely on the app’s table management system to keep track of their inventories of available tables. Diners also use the service to find restaurants, access discounts and make payments and reservations.

NSI led a $8 million round for the company alongside F&H Fund Management in 2015. DSG, SPH and Frontier Ventures also contributed. Earlier backers include Innosight Ventures, which invested $1.1 million in 2011 via its IDEAS incubator fund.

Square Peg was set up in 2012 by Paul Bassat, co-founder of job listings site Seek. The firm closed its debut fund at A$234 million ($183.4 million) earlier this year, exceeding the A$200 million target. It makes early and expansion stage investments in startups in Australia, Southeast Asia, and Israel.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Early-stage
• Square Peg Capital
• NSI Ventures
• Susquehanna Asia Investment
• DSG Partners Asia
• Singapore
• TMT