Hawker delivery app WhyQ bags RM4.6 million Series A2 funding

WhyQ, a hawker meals supply startup energetic in Malaysia and Singapore, has secured a further RM4.6 million (S$1.4 million) in an extension to their Collection A2 funding spherical. The spherical was led by the Kairos FoodTech Fund of Kairos Capital Group, in response to a January 26 press launch.

The startup’s preliminary Collection A2 spherical of RM11.8 million (S$3.6 million) closed in 2021, led by Supply Hero, Chope, Angel Central, and RB Investments.

Established in 2017 as a hawker meals supply service, WhyQ can be utilizing the funds to develop its digitalisation platform that helps construct digital infrastructures for MSMEs.  

“SMEs are the financial spine of Southeast Asia, accounting for greater than 90% of all firms and are the first drivers of social mobility,” mentioned Eric Cheong, the co-founder and managing associate of Kairos Capital Group.

Picture Credit score: WhyQ

Nonetheless, these SMEs usually wrestle to search out merchandise that cater to their particular wants.

Thus, WhyQ’s position is to assist these SMEs, which frequently face boundaries to adopting newer know-how. The startup at present helps over 20,000 small companies in Singapore and Malaysia with its options.

“Leveraging on our expertise partnering with small-scale F&B owner-operators like hawkers, we wish to lengthen our experience to now assist small enterprise homeowners in Malaysia to digitalise correctly, with easy and free merchandise,” mentioned Varun Saraf, the CEO and co-founder of WhyQ.

The 2 free merchandise embrace an eBiz app (WhyQ EBiz) and a digital bookkeeping app (WhyQ Kira Kira).

Why WhyQ?

Primarily based in Singapore, WhyQ has its begin as a hawker-first digital ecosystem that gives a strong platform for hawkers to ship cooked meals, order wholesale raw-material provides, and combine with POS methods.

Nonetheless, its supply providers haven’t but made their solution to Malaysia.

Its WhyQ eBiz app is a product that has been developed from their experience with such providers. A one-stop resolution app, it allows MSMEs to create their very own personalised e-store hyperlinks, sharing them throughout their social media platforms and in the end managing orders throughout the app.

By the app, companies also can join with well-liked marketplaces like foodpanda, settle for on-line funds, and join with logistics providers like Lalamove.

The digital bookkeeping app, Kira Kira, however, permits small companies to trace their day by day transactions, handle their accounts, and apply for low-interest loans from companions similar to Funding Societies.

Cue the expansion

In 2023, WhyQ plans so as to add extra options to its eBiz app, similar to customisable templates for on-line storefronts and integrations with well-liked ecommerce platforms like Shopee and Lazada.

In response to the press launch, the startup additionally plans to associate with extra logistics suppliers and fee gateways, giving small companies extra choices for fulfilling orders and accepting funds.

Moreover, WhyQ additionally plans to boost its digital bookkeeping app with options similar to automated gross sales and expense categorisations, stock administration, and invoice funds. In the meantime, it additionally goals to develop its community of lending companions.

Featured Picture Credit score: The crew at WhyQ