Chope, a Singapore-based restaurant booking platform, has closed an S$18m ($13m) round featuring publisher Singapore Press and C31 Ventures, real-estate developer CapitaLand’s corporate venturing arm, DealStreetAsia has reported.
Trading and technology firm Susquehanna International Group also contributed to the round, which was led by Square Peg Capital and included participation from Moelis Australia, NSI Ventures, DSG Consumer Partners and SPH Ventures.
Founded in 2011, Chope is an online platform that enables diners to make reservations for a table at nearly 2,000 restaurants across Asia. Launched in Singapore, it has since expanded to China, Thailand and Indonesia.
The investment will be used to improve the platform and customer support as well as expand the sales team.
Chope raised $2.5m in a 2013 series B round led by Singapore Press, which subsequently contributed to an $8m series C round in 2015 that also featured F&H Fund Management, NSI Ventures, DSG Consumers Partners and Frontier Ventures.
The company closed its series A round in 2012 but has not confirmed details, though various reports suggest it raised between $880,000 and $1.1m in the round.
Arrif Ziaudeen, chief executive of Chope, said: “With these resources, we are positioned to invest significantly in our unique selling points of user experience and customer service, while deepening our reach into our markets across Asia.
“We are now targeting profitability between late 2018 and early 2019.”