FinTech Collective welcomes global restaurant payments startup Qlub to the portfolio. Founded by Eyad Elkasser and Mahmoud Fouz, the team has previously founded and scaled firms such as Lazada, Namshi, and Snapp. The Qlub team also comprises senior veterans from globally leading foodtech companies. The company raised $17m in seed funding from a broad set of global investors including Cherry Ventures, Point Nine, STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective.
Globally, one in three consumers have started using digital payments for the first time within the last year, while 52% said they transitioned all or most of their in-store spending to online, said Faisal Kawar, Principal at global venture capital firm FinTech Collective.