Ubamarket, a London, UK-based provider of a ‘Scan Pay Go’ retail tech app, raised £2.9m in equity funding.
IW Capital led the round with an £800k investment.
The company intends to use the funds to expand its business reach into new industries such as hospitality.
Founded in 2016 and led by Will Broome, CEO, Ubamarket is a provider of a ‘Scan Pay Go’ retail tech app with features such as contactless payment, interactive menus, facial recognition, takeaways and deliveries. Furthermore, venues get access to an API cloud-based software that is linked to the POS system, meaning that any changes made to the menus in the restaurant are updated to the app in real time.
The company already has partnerships with Central England Co-Op and SPAR.