Mr Yum eyes a bigger piece of the PayTech Pie following Series A

Australian mobile payments firm Mr Yum has snared £48m from a Series A funding round led by Tiger Global.

The round also saw participation from Commerce VC, VU Venture Partners, Skip Capital, TEN13 and AirTree. Australian NBA star Patty Mills and music group Rüfüs Du Sol also took part. This builds on the £6m the company raised in its post-seed round earlier this year.

Mr Yum noted that this funding round is the largest Series A for a female-led company in Australia and the third largest Series A in Australian history.

Founded in 2018, Mr Yum is a mobile ordering, payments and growth platform that claims it is creating the ‘best growth toolkit for hospitality and entertainment’.

The company has grown from having 12 to over 120 full-time staff in the last year and a half, and now has teams in Sydney, London, Brisbane, Melbourne and Los Angeles, as well as 13 million users and more than 1500 venues on the platform globally.

According to Mr Yum, the newly raised funding will be used to accelerate the company’s global growth.

Mr Yum CEO and co-founder Kim Teo said, “We couldn’t be more excited about the new partners that have joined our crusade. This round of capital allows us to triple down on our global lead on product innovation as we grow our teams across the US, the UK and Australia Restaurants are embracing technology more than ever and our focus is building best-in-class tools to help them grow.”

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