30 June 2015, Singapore
Frontier Ventures is proud to announce its most recent investment – The Chope Group (www.Chope.co), which today announced the closing of a US$8M (SGD11M) investment round from a consortium that also included F&H Fund Management, NSI Ventures, DSG Consumers Partners, Singapore Press Holdings and several other investors.
Chope is Asia’s leading provider of services to restaurants – it enables users to make instantly confirmed reservations across a wide network of Singapore, Hong Kong, Shanghai, Beijing and Bangkok. The company also offers table management solutions to its restaurant clients, as well as queue management solutions through Ticktok, which Chope acquired recently. In addition, Chope provides marketing services to its partner restaurants.
The latest US$8m round marks the largest in Chope’s history. Prior to this round, the Company has raised a total of US$3.5m. To date, Chope has seated 20 million diners and continues to grow rapidly. The most recent round of funding is the latest in a series of positive developments for Chope, including releasing a first-of-its-kind Apple Watch app, and launch of a “What’s Happening” feature that enables diners to see which restaurants friends have dined at.
In a comment on the fund’s latest investment, Frontier Ventures’ Founder and Managing Partner Dmitry Alimov stated: “We are excited to become an investor in Chope and look forward to helping the company grow. Chope is an excellent company with a strong team and a great product and which in our view can help restaurants in South East Asia and China manage their business and attract clients. Frontier Ventures is proud to have Chope as its first investment in South East Asia and the 9th online service marketplace business in the fund’s portfolio. We expect that our experience with online service marketplaces can help the company as it continues to win in this market. We will continue to focus on the online service marketplace segment and expect to add more companies in this segment to our portfolio in 2015. Our goal is to help entrepreneurs in South East Asia and globally accelerate the growth of their online service marketplaces by using the knowledge and relationships we accumulated by being active investors in this space globally.”
The Chope Group is Asia’s premier online restaurant reservations provider. With a range of products to meet the varying needs of restaurateurs, Chope helps restaurants use online booking channels, improve yield, and keep better track of their clients’ preferences, all while helping diners discover and reserve or queue at the best and most popular restaurants through the Chope website (www.chope.co) and app. Through Chope, diners can make reservations 24 hours a day, 7 days a week, from anywhere in the world. With over 700 restaurants on the network and millions of diners seated, Chope is committed to making restaurant dining and discovery easier than ever before. Chope currently operates in Singapore, Hong Kong, Shanghai, Beijing and Bangkok.
About Frontier Ventures
Frontier Ventures (www.frontier.ventures) is a venture fund focused on Internet investments in global emerging markets, with a main focus on consumer Internet services in South East Asia and Russia. Frontier Ventures is an investor in several leading businesses, including Asia’s leading restaurant reservation platform Chope, Russia’s leading online video company ivi.ru, and profi.ru – the largest online marketplace business in Russia and CIS. Founded by serial entrepreneurs, Frontier Ventures aims to partner with strong entrepreneurs to build market-leading businesses.
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