Ubamarket secures £2.9m in a seed follow on round led by IW Capital to expand into hospitality
IW Capital led the oversubscribed funding round to support the company as it moves into the hospitality sector.
Ubamarket has developed a scan pay go mobile application for the retail sector featuring patented shopping list technology. The platform enables frictionless in-store purchases and helps merchants increase basket sizes.
Ubamarket has secured £2.9m in a seed follow on investment round led by IW Capital. The funding will allow the company to evolve its existing white label retail app and expand into the hospitality sector with a new ordering and payment application. IW Capital contributed an oversubscribed £800k to complete the raise, which follows established partnerships with retail groups such as SPAR and Central England Co Op.
Established in 2016, the firm specialises in contactless retail solutions featuring aisle navigation, automated lists, facial recognition, and till-less checkout. The newly developed hospitality platform adapts this core software to provide interactive menus, takeaways, deliveries, and real time cloud integration with existing point of sale systems.
From the founder
"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. 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."
Will Broome
founder and CEO at Ubamarket
Use of funds
- 01Expand into international markets
