Malaysian POS platform, StoreHub raises its $13.5M Pre-Series B

StoreHub | 21 Sept 2022

*This article was first published on *Tech In Asia.

StoreHub, a point-of-sale (POS) startup based in Malaysia, has raised US$13.5 million in a pre-series B funding round led by 500 Global, with participation from OSK and Vertex Ventures Southeast Asia & India.

Founded in 2013, StoreHub offers a platform that helps restaurants and retailers accept payments, manage table ordering, and maintain customer loyalty. It currently counts more than 15,000 businesses in Malaysia, Thailand, and the Philippines as its clients.

The company said that it processed over 128 million transactions worth 7.2 billion ringgit (around US$1.6 billion) in gross transaction volume in the past 12 months, a 40% surge compared to the previous year.

To manage the growth, StoreHub said it hired 100 new employees in the last six months. It also said that it was “close to net profitability” in end-2021.

The firm plans to use the fresh funding for product development purposes.

StoreHub was established by Wai Hong Fong and Congyu Li. In 2020, it raised US$8.9 million in a series A+ funding round led by Vertex Ventures Southeast Asia & India.

**For the latest news on Vertex Ventures SE Asia and India and our portfolio companies, follow us on Linkedin or **subscribe to our monthly newsletter.

Vertex Ventures Southeast Asia and India is part of the global Vertex Ventures network of funds.

In addition to Southeast Asia and India, the Vertex Global Network is comprised of affiliates in Silicon Valley, China and Israel. This provides a unique platform for our portfolio companies to realize their full potential by leveraging the combined experience and resources of our extensive network of global partners.

250 North Bridge Road, #09-01

Raffles City Tower,

Singapore 179101

+65 6828 8088

© 2022 by Vertex. All rights reserved. Legal