Deal: Tech firm Mr Yum that provides a QR code mobile ordering and payment platform for the hospitality and entertainment industries and provides a solution that helps businesses grow revenue while giving customers a seamless digital experience, has raised $11 million in a post-seed capital raise.

Value: $11 million.

Area: Capital markets.

Key players: The HSF team was led by partner and head of venture capital Peter Dunne, co-head of venture capital (Australia) Elizabeth Henderson and graduate Rachel Holland.

Deal significance: Reflecting on the capital raise, Ms Henderson said: “Mr Yum is one of Australia’s fastest growing start-ups in the hospitality industry. The last 12 months have been immensely challenging for the sector, but the shift to contact-free interactions and the development of take-away and delivery offerings during COVID has seen Mr Yum grow over 20-fold, with interactions with up to 10 million users.”

“We were delighted to work with the company and its co-founders Kim, Adrian, Kerry & Andrei on this transaction and mark another significant milestone,” she noted.

Mr Yum chief executive and co-founder Kim Teo added: “Herbert Smith Freehills have been a dream to work with. We were introduced through a founder friend and from the very start, they made us feel confident and comfortable.

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“Elizabeth, Rachel and Peter gave sound commercial advice and worked blisteringly fast throughout the process. We are looking forward to building a long-term partnership with HSF and recommending them to other founders.”