Mr Yum raises $11m in post-seed raise
Australian tech start-up Mr Yum has been advised on its $11 million post-seed capital raise, led by TEN13 and AirTree Ventures.
Firm: Herbert Smith Freehills (Mr Yum).
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.
“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.”