Slurp! Secures Funding to Accelerate Growth of Mobile Point-of-Sale System

Aug 16, 2017 - K.L :

Silentmode Sdn. Bhd. (“Slurp!”) the developer of Slurp! cloud-based point-of-sale system (POS) that specializes in food and beverages (F&B) industry sector today announced that it has recently closed a Series A round of funding of RM2.5 million. The funding has come from Axiata Digital Innovation Fund (ADIF) and it is managed by Intres Capital Partners Sdn. Bhd., a Kuala Lumpur-based venture capital firm.

Slurp! which was launched into the F&B retail market in 2014 plans to use the funding to accelerate product sales and marketing, grow its current team as well as explore regional markets for potential expansion in 2018.

Reza Razali, CEO and Co-Founder of Slurp! said, “We are very thrilled about the funding secured. Our team has been working very hard to make Slurp! which is a homegrown POS system, an effective solution for owners of F&B retail businesses. As we push forward, it is crucial for us to have a strong support system and after getting to know the people running Axiata Digital Innovation Fund (ADIF) and Intres Capital, we are convinced of their capabilities. We are grateful that ADIF and Intres Capital have put their trust in us.”

Kamarul Nizam Kassim, Partner of Intres Capital Partners which led the investment into Slurp! stated, “I believe the team’s focus to provide the preferred POS exclusively for F&B retail businesses will differentiate Slurp! from other POS players in the market. Slurp! provides powerful data analytics presented in a very user-friendly interface to help F&B proprietors maximize revenue, optimize costs, spot hidden operational inefficiencies and identify new F&B trends, which ultimately keep customers coming back. Slurp!’s open architecture also allows it to connect with various partners within the F&B ecosystem to support F&B proprietors grow their business such as restaurant aggregator sites and food delivery service providers. Best of all, Slurp! is a cloud-based platform which makes it affordable for all restaurants across the spectrum, from your neighborhood café all the way to fine-dining restaurants. Democratization of access to leading-edge technology is pivotal to an inclusive and sustainable economic growth, and Slurp! is leading this sea-change for the F&B vertical.”

As part of its growth plan, Slurp! has appointed Shi-Ying, Lau, former Head of GrabCar, Malaysia, as Director of Strategy and Partnership. Shi-Ying brings more than eight years of global experience in consulting and technology to Slurp!

With her former track record in building GrabCar, Malaysia, from the ground up until it became a very sizable business, Reza is confident that Shi-Ying will lead the local and regional expansion as well as partnership for Slurp! to the next level.

Reza continued to explain, “As of August 1, 2017 over 500 F&B outlets in various cities in Malaysia have used Slurp! and we have an aggressive aim to at least double that number by end of this year.”

Besides Malaysia, Slurp! has already a presence in Singapore through a strategic partnership and it is currently eyeing a bigger expansion within the region of Southeast Asia in the future.

“We have been actively generating feedback from our customers and that helped us to turn Slurp! into a specialized POS system that is meant to address many challenges of managing F&B outlets especially on matters such as outlets operations, inventory management, table layout management and staff productivity management. With Slurp! too, owners get to monitor their F&B performances remotely and on real-time by using our analytics dashboard. Collectively, these have set us apart from many POS systems in the market,” Reza concluded.