Restaurant-booking app Chope bags S$18m funding round

RESTAURANT-BOOKING app Chope has secured S$18 million from multiple investors, led by venture capital firm Square Peg Capital.

The investors in the funding round include Moelis Australia, NSI Ventures and SPH Ventures.

Chope said it will use the funds to improve their product, recruit more staff and enhance customer support. The company will also "invest heavily in further innovations to maintain its status as a leading pioneer in the fast-changing F&B industry".

"We are impressed by Chope's success in capturing a leading position in Asia's most attractive, growing dining markets in the premium dining segment. Chope offers a compelling service to both restaurants and diners, and we are excited to contribute our expertise and capital to substantially expand the business," said Tushar Roy, partner at Square Peg Capital.

Arrif Ziaudeen, CEO of Chope, said: "Chope looks forward to our next stage of growth with this new capital and strategic partnership. With these resources, we are positioned to invest significantly in our USPs (unique selling propositions) of user experience and customer service, while deepening our reach into our markets across Asia."

The parent of SPH Ventures is Singapore Press Holdings, which also owns The Business Times.