US-based POS system for restaurants Checkmate has closed its Series A round in $3m.
The capital injection was led by US-based investment firm Tiger Global Management.
Founded in 2016, the company offers a range of POS systems which are all connected with one another, both instore and online. Checkmate automatically collects orders from all platforms and are entered into a single system. Orders are then printed in the kitchen by the same device for walk-in orders at the restaurant.
Its integrated platform also lets partner restaurants to send orders directly to their kitchen printer, allowing them to accelerate food preparation, lower costs and reconcile accounting.
Some of its clients, which integrate the POS system directly with their operations, include UberEats, GrubHub, Caviar, Delivery.com, and Ritual, among others.
The POS system can integrate with a number of other POS solutions including Toast, Brink POS, Revel, Salido, LAVU, Maitre’D, rezku, and NCR.
Checkmate founder and CEO Vishal Agarwal said, “Checkmate makes the process of accepting orders from these ever-growing online ordering platforms and delivery services very efficient, allowing the restaurants to grow their revenue without increasing the cost of managing them.
“We are very honoured to have the backing of Tiger Global Management and believe we can grow rapidly as the volume of online orders is only going to grow, and we can help restaurants massively streamline their orders from these sources at a fixed cost.”
Tiger Global recently led the $300m Series E funding round of the digital currency wallet provider Coinbase. The funding round valued the FinTech a valuation of $8bn, and will support the expansion of its global operations.
The firm also recently led the $245m funding round of online payments processing solution Stripe, which was valued at $20bn after the round.
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