A UK tech start-up surpasses its crowdfunding targets by more than 34% (£87,260) as it looks to revolutionise the hospitality industry.
ePOS Hybrid launched its month-long crowdfunding campaign with the objective of raising £250,000 – a target the team smashed halfway through the campaign, which now has 7 days left to go.
The Edinburgh-based firm has raised £337,260 from 115 backers, including £100,000 from an Australian investor and $50,000 from a Silicon Valley based company.
The start-up has experienced unwavering demand from the hospitality industry for its ePOS hardware and software, which is changing the way businesses operate and interact with their customers.
As well as continuing to strengthen ties in its current markets, ePOS Hybrid has ambitions to further scale and branch out to customers in the USA and other international markets.
Andrew Gibbon, Head of Growth at ePOS Hybrid, said: “Hitting and surpassing our investment ambitions so quickly marks a tremendous milestone in our company’s growth.
“We’re now overfunding and still have a week to go! The speed at which we hit our raise target demonstrates the level of interest and confidence among investors for what we’re currently doing and our future.
“We’re thrilled to have secured international investment from Australia as well as Silicon Valley – proving to us that we have a truly global market available with countless opportunities for expansion.”
ePOS Hybrid is projecting a revenue of £22,335,000 with an estimated 12,000 customer base by May 2023. The crowd-funding campaign is running on Crowdcube until March 12, 2020.
The start-up has become known for its innovative point-of-sale hardware and software which covers everything a hospitality venue might need – from smart tables and self-checkouts to online and app ordering and food waste reporting.
Founder of ePOS Hybrid, Bhas Kalangi added: “We’re excited to see what the final figure will be as we continue to overfund our campaign. The entire crowdfunding experience has represented one of the biggest successes in our start-up journey so far.
“It’s really highlighted how we’ve disrupted the market and our growing reputation as a game-changer in the hospitality industry.”
ePOS Hybrid has catapulted itself to the forefront of the food tech sector through spotting the gaps in current point-of-sale offerings and creating its own market leading hardware and software products.
The start-up is the only ePOS provider to offer a fully modular platform, meaning every product seamlessly connects with one another to deliver the slickest experience for customers and consumers.
The company boasts an extensive portfolio of clients across Scotland, England and Wales – as well as India and Australia.