Melbourne-founded mobile payments company Mr Yum has raised an $89 million Series A round, led by Tiger Global.
This is the largest Australian Series A funding round for a female-led company, and the third-largest Series A funding round of venture capital financing in Australian history.
Investors in the round include Skip Capital (the private fund of Atlassian co-founder Scott Farquhar and Kim Jackson), Tennis Australia’s Wildcard Ventures, Broadsheet founder Nick Shelton and Kogan founder Ruslan Kogan.
Other investors in Mr Yum include US-based Australian NBA star Patty Mills of the San Antonio Spurs and Grammy Award winning artist Rüfüs Du Sol.
Founded in November 2018, in just three years Mr Yum has become a global-leading mobile ordering, payments, and growth platform with a mission to create the best toolkit for hospitality and entertainment in the world.
The company says that this toolkit is more than just QR code ordering, but encompasses a suite of features for operators, including payments, loyalty, marketing and customer insights.
Mr Yum CEO and co-founder Kim Teo says the funding round will accelerate the company’s global growth and help cement the post-pandemic recovery and trajectory of the hospitality and entertainment industries around the world.
“We couldn’t be more excited about the new partners that have joined our crusade,” she says.
“This round of capital allows us to triple down on our global lead on product innovation as we grow our teams across Australia, the UK and the US.”
Tiger Global partner John Curtius says the company is thrilled to lead the Series A round to support Mr Yum to continue scaling globally.
“Tiger Global is heavily invested in restaurant technology around the world. We understand the category and players well and Mr Yum is the clear leader in product innovation for mobile ordering and payments,” he says
The company has grown from 12 to more than 120 full-time staff in the past 18 months, with teams in Sydney, Brisbane, London, Los Angeles, the Philippines and the Melbourne headquarters.
For more information, visit the Mr Yum website.