Fave acquires food-ordering apps CutQ and FoodTime for table ordering service

Fave acquires food-ordering apps CutQ and FoodTime for table ordering service

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MOBILE rewards platform Fave has introduced a new table ordering service on its app, enabled by its acquisitions of food-ordering startups for an undisclosed sum, the company announced on Friday. 

CutQ is a local food takeaway app that enables its users to skip queues and have their food ready for pick-up. FoodTime is a Malaysia-based mobile food ordering and delivery app. 

On Friday, Fave announced that it has acquired local startup CutQ and Malaysia-based FoodTime, and integrated both apps' table ordering solutions onto its platform. Both startups’ leadership teams are now also part of Fave. 

The table-ordering service allows diners across Singapore and Malaysia to order food at a restaurant by scanning a QR code to be directed to a menu on their mobile phone. Users can then place and pay for their orders using the in-app e-wallet Favepay, without queueing up. 

Merchants are not required to pay a membership fee for the table-ordering service. 

“The introduction of table ordering will enable F&B merchants to reduce the time taken for queuing, ordering and billing at their outlets while reducing dependency on waiting staff and manpower,” said Ng Aik-Phong, managing director of Fave Singapore, in a press statement. 

Audra Pakalnyte, head of Strategic Initiatives at Fave, said: "The acquisition allows Fave to access existing knowledge base from these startups which are already running table ordering and takeaway services."

Since the pilot of the table-ordering service in April 2019, over 50 F&B merchants in Singapore and Malaysia have signed onto the service. This includes well-known brands such as Gelare, Paulaner Brauhaus, Saboten and Tingkat Peranakan in Singapore and Murni Discovery, Naughty Nuri’s, Frisky Goat Bakery Cafe and Home Noodle in Malaysia. 

The service is powered by FavePay mobile payments which also provides loyalty cashback to consumers and more returning customers for merchants. This quarter, Favepay transactions crossed the six million mark, with more than US$6 million worth of cashback issued to Singaporeans and Malaysians by merchants.

Fave’s focus will be to increase its market share through continued partnerships, expansion of new services to help merchants manage overcrowding in restaurants, as well as greater efforts in merchant acquisition. 

Fave aims to expand further in second-tier cities, where its operations has already seen huge growth from 12 cities in three countries to 35 cities within the last year, said Ms Pakalnyte.