£2.9m raise for ‘Scan Pay Go’ app Ubamarket
Posted on February 12, 2021 by Jonathan Symcox
Retail app Ubamarket has raised £2.9 million as it looks to revolutionise the hospitality industry.
The start-up already has partnerships with SPAR and Central England Co-Op for its white label ‘Scan Pay Go’ app Ubamarket, which includes aisle sat-nav, automated lists, facial recognition and till-less check out.
Founded in 2016, the London firm is now targeting hospitality with the new NOMM (New Order Magic Menu) following funding from investors including IW Capital.
With COVID-19 lockdown closing the industry, it says NOMM will seek to be the most sophisticated app available to the sector, offering contactless payment, interactive menus, facial recognition, takeaways and deliveries.
Furthermore, the benefits for the venues include an API cloud-based software that is linked to the POS system, meaning that any changes made to the menus in the restaurant are updated to the app in real time.
“We are proud to have so many people have such faith in our service. 2020 was an excellent year for us, building such crucial trade partnerships. Now we are looking to continue 2021 in a similar vein with our bold expansion into the hospitality industry,” said CEO Will Broome.
“Through NOMM, we are providing an app that will bring reassurances and comfort to guests and business owners alike. Once the industry is reopened, we will have produced the fastest, cheapest and most tech-enabled solution to many of the problems Covid has highlighted.”
Luke Davis, CEO of IW Capital, said: “While some investors have treaded with caution as a result of COVID-19, we believe that now is exactly the right time to be investing into innovative businesses.
“This is especially true of those which offer tangible products which industries such as hospitality are desperately in need of once they open up again this summer.
“With Ubamarket providing exactly what customers are crying out for within the retail and hospitality experience, their service provision is catering to a huge captive market.
“We believe, along with our investor base, that now is the most opportune moment to provide a platform for SMEs to thrive, and we believe that Ubamarket LTD will continue to go from strength to strength, and add to their already impressive roster of partnerships.”