UAE-based fintech Qlub has secured $30 million in fresh capital to accelerate international expansion of its QR-code dining payment technology. The funding round drew co-leadership from Shorooq Partners and Cherry Ventures, with strategic participation from telecommunications giant e&, sovereign wealth fund Mubadala Investments, and Legend Capital.
The three-year-old startup, established by Eyad Alkassar and Dr. Mahmoud Fouz in 2021, operates a smartphone-based payment system that allows restaurant patrons to browse menus, place orders, and settle bills without physical interaction with staff or traditional point-of-sale terminals.
Operational Impact and Market Reach
Qlub’s technology has demonstrated measurable benefits for hospitality operators across multiple markets. Restaurant clients using the platform report tip increases of 300 per cent, checkout processes that complete 80 per cent faster than traditional methods, and labour cost reductions averaging one-third of cashier positions. The system also generates seven times more positive Google reviews for participating establishments.
The company currently processes several billion dollars in transactions annually whilst serving millions of monthly users across nine markets, including the UAE, Saudi Arabia, Singapore, Hong Kong, Australia, Brazil, Qatar, Kuwait, and South Korea. Notable clients include Paul Cafe, Wagamama, Sushi Samba, and La Petite Maison.
Strategic Investment Rationale
The funding round reflects growing institutional confidence in contactless payment infrastructure for the hospitality sector. Mahmoud Adi, Founding Partner at Shorooq, described the investment philosophy:
“From the very beginning, we saw in Qlub more than just a payments solution—we saw a new infrastructure for how hospitality should work in a digital-first world” ~ Mahmoud Adi, Founding Partner at Shorooq
Cherry Ventures, which participated in both funding rounds, emphasized continuity in their support. “From day one, Qlub has shown how technology can simplify and modernize hospitality” ~ Filip Dames, founding partner of Cherry Ventures.
Expansion Strategy and Product Development
The fresh capital will fund geographical expansion into new regions whilst enhancing existing market penetration. Qlub plans to integrate advanced analytics capabilities that provide restaurants with deeper insights into customer behaviour and dining preferences. The company also aims to strengthen partnerships with hospitality and technology sector players to drive broader adoption of contactless payment solutions.
“Qlub’s innovative approach to enhancing the dining experience aligns with our commitment to supporting digital transformation in the region.” ~ Khalifa Alshamsi, CEO of e& Life.
Funding History and Market Position
This latest investment follows Qlub’s initial $25 million funding round in 2021, which was led by Cherry Ventures and Point Nine, with participation from STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective. The sequential funding rounds demonstrate sustained investor appetite for hospitality technology solutions.
Co-founder framed the company’s value proposition in direct terms:
“Our vision is simple: Qlub makes paying at restaurants ten times faster—and that elevates the entire dining experience” ~ Eyad Alkassar, Qlub co-founder.
Co-founder Fouz expressed gratitude for continued investor support whilst signalling ambitious growth plans ahead.