Toronto, Canada-based restaurant management software-as-a-service (SaaS) company Snappy announced the closure of its oversubscribed Series A funding. The round took place on October 11, 2023. However, they did not disclose the amount of the funding. Texas-based Golden Section Ventures led the financing for the company.
Purpose of financing for Snappy
With the latest financing, Snappy has plans to expand its market presence in North America. Snappy continues to power restaurants globally with its cost-effective and efficiency-driving restaurant software tools.
Earlier in 2021, the company raised from Celtic House Venture Partners and Celtic House Asia Partners.
What the company’s official has to comment
Ricky Wang, Co-founder & CEO of Snappy, said, “We are at an exhilarating time on the restaurant digital transformation path when the need to improve operational efficiency, customer experience, and staff management has never been stronger. We are pleased to partner with Golden Section Ventures to continue the expansion of our business in North America through regional offices in the US and Canada as we work with restaurateurs to streamline their operations and boost digital presence and customer experience. Snappy remains committed to finding innovative ways to help restaurant operators run their businesses more efficiently and become more profitable.”
What the investors have to comment
Andrew Smith, Executive Director of Golden Section, further said, “Even though the restaurant software vertical has some major players, it’s still an incredibly fractured market. Snappy’s cloud-based, nimble, modular solution is a flexible option for independent restaurants and large chains alike. We think Snappy will be the market leader in short order.”
In addition, David Adderley, Partner at Celtic House Venture Partners, said, “We are pleased to have Golden Section join the investor syndicate at Snappy. Snappy’s ability to scale its operations in Canada and now expand into the US while maintaining excellent performance metrics has been impressive. All this has been done in a capital-efficient manner through innovation rather than buying market share with investor capital. This round’s additional funding will allow Snappy to continue its mission of providing restaurant operators with the most cost-effective and easy-to-deploy all-in-one restaurant management SaaS.”
About the company
Ricky Wang is the CEO of the company. Snappy provides technology products, allowing restaurants to manage every touchpoint of the guest experience with ease. The company also enables streamlining of customer operations to one platform, increase direct sales via online storefront, and build customer loyalty with improved means of restaurant-to-guest communication.
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