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An introduction to QikServe and their EIS-eligible investment opportunity
A Software as a Service (SaaS) business operating in the travel hospitality market, QikServe is uniquely positioned to become a global leader in digital self-service solutions, having already won key customers, built up traction and grown their network of partners.
Embarking upon their Series A round (full details of the investment opportunity are available here), QikServe are raising £2.5 million at a pre-money valuation of £10 million, in exchange for a 21.8% equity share. Having already received pledges in the region of £2.3million from existing shareholders, they have consequently allocated a £500,000 overfunding tranche to allow more investors to participate in this exciting capital growth round.
Benefiting from EIS (Enterprise Investment Scheme) eligibility, this opportunity can allow investors to benefit from a range of generous tax reliefs and incentives, including 30% income tax relief.
Who are QikServe and what do they do?
QikServe provide a full technology solution comprising of both software and hardware to food and beverage outlets, allowing customers to order at a kiosk, through an app on their phone or on table-based tablets, enabling the ultimate in consumer convenience.
Built on the understanding that we're moving further and further into a cashless society - and that the mobile order market is reported to be worth £27 billion - QikServe have seen considerable success to date, including with some of the world's largest food and beverage organisations.
Led by a strong and experienced team, including serial entrepreneur Daniel Rodgers as CEO, co-founder Ronnie Forbes and Michael Lloyd as COO - the team are disrupting the global hospitality market.
Being piloted in hotels, casinos, stadiums and other facilities, QikServe are proving how their products and services are suitable across several sectors using a variety of different outputs, and the immense potential within the industry.
Why is there a need for this technology?
The way in which we integrate with our surrounding technology has completely changed in comparison to the last decade. We’re increasing the connectivity of our homes through app-based heating, lighting and smart home systems. We’re improving the technology of our environment with the introduction of smart cities. We’re often increasing our personal connectivity with smartwatches, wireless Bluetooth devices and phones more powerful than many desktop computers.
This shift in technology acceptance and integration has led many food and beverage chains to introduce intermediary self serve systems through simple apps and kiosks - but QikServe have identified the need in the market for a single supplier to be able to provide software and hardware solutions across all tech channels.
What’s more, as well as covering all of the outputs - kiosks, tablets, web and mobile ordering - QikServe are able to integrate into most of the software and hardware partners in the market. This is enabled through their Oracle Gold Partnership status, which has been a key partnership for QikServe.
What do their customers think?
In February last year, the Kebaya Asian brasserie at Amsterdam’s Schiphol Airport launched the QikServe integration within the restaurant, using both self-service tablet ordering and large, touch screen digital menus.
Kebaya, the largest restaurant in Schiphol Airport at 676sqm and with 200 seats, is operated by HMSHost International - one of the world's leading restaurateurs operating in Europe, Asia-Pacific and the Middle East with almost 50 years experience in airport operations.
Within the airport environment, time is everything for passengers so it was imperative that through QikServe’s guest-facing tablet ordering solution, Kebaya could guarantee guests plenty of time to catch their flights, as well as enjoy a great meal in beautiful surroundings.
When diners enter the restaurant, they are greeted with large, visually rich, interactive touch screen displays where they can take their time to browse the menu enjoying vivid, high definition images of Kebaya’s creative dishes. One of the most notable results of this is regardless of nationality or language spoken, everyone can understand the menu.
“At Kebaya we have aimed to raise the guest experience to new heights and we are delighted to see that customers have wholeheartedly adopted our new approach to ordering. The feedback we have received from both guests and staff has been overwhelmingly positive, and the QikServe ordering has been a pleasure to work with, allowing us to seamlessly build the ordering component into our point of sale system.” - Walter Seib, CEO Host International
About the EIS investment opportunity
QikServe are looking to raise £2.5 million in exchange for a 21.8% equity share in their business at a pre-money valuation of £10 million. This growth investment capital will be used to capitalise on their market opportunity and accelerate the roll-out of their solutions across the travel concessions sector.
Currently there are five institutional and professional investors pledging investment in the round, including Maven Venture Capital Trusts, who are following on their investment and increasing their shareholding from a previous round. Moreover, the round also benefits from VCT clearance, allowing a smooth transaction for the VCT and institutional investors.
With full details of the investment opportunity available in the investment documentation, you can view the full opportunity details - and invest in this EIS-eligible investment opportunity from as little as £100 - via the pitch page here.