Wi5 raises $6m to supercharge growth in run-up to Series A
Building on its successful model, the data-driven mobile Order & Pay platform is set to increase its UK market share and scale rapidly in the US
30 March, 2021
London-based mobile Order & Pay platform, Wi5, has raised $6m in a pre-Series A led by West Hill Capital, with sights set on closing a Series A this spring
Entering the market long before the pandemic hit, Wi5 was at the forefront of delivering digital menus in restaurants, bars and cafés via web-apps. In doing so, Wi5 proved the industry demand for mobile ordering, and was quick to sign hundreds of hospitality venues, including enterprise brands such as Pho, Boxpark and Urban Pubs & Bars. The latest raise will be invested in accelerating the development of its data-driven product offering, while growing its UK market share and building on early success in the US.
Wi5 is designed to boost profitability by improving operational efficiencies and increasing frequency and average value of orders. With Wi5, 100% of sales, both on and off-premise, can go through mobile, providing frictionless and intuitive experiences for customers and operators.
Barriers such as high costs and limited technical expertise previously meant top-quality hospitality technology was only accessible to global enterprise brands. Wi5 is addressing a gap in the market, placing advanced customer targeting and profitability optimisation within the reach of all operators.
Already gaining traction in key cities such as Texas and Miami, Wi5’s international expansion will initially focus on the US, where it expects revenues to overtake those from the UK within 18 months.
Wi5’s senior team has a track record of rapid growth and US expansion. Alberto Menolascina has been on the board since 2019 and, having left dark kitchen giant, Reef, where he served as Chief Growth Officer, has started the much talked-about grocery delivery startup, Dija, which recently raised a £20m Seed with Blossom Capital, Creandum and Index Ventures.
Prask Sutton, Wi5’s Founder & CEO said:
“For too long, so many SMEs — representing 80% of the hospitality industry — have been excluded from the benefits of modern sales technology due to the unit economics and requisite technical expertise. We strongly believe there’s another way and our product offering and commercial model proves that. In a market worth $47bn, we’re providing an advanced sales platform and card processing solution at a cost below the most popular payment-only services.”
“I’m delighted West Hill followed on to lead this round. Their further financial backing represents a great vote of confidence in the acceleration of our business. This puts us in a fantastic position to capitalise on the wealth of data mobile Order & Pay is generating and further increase the profitability of our operators.”
Notes to editors
More than just a digital menu, Wi5 is a highly scalable sales platform which provides hospitality operators with simple to manage and advanced sales software – enabling them to increase revenues, reduce costs and respond to the growing demand for digital ordering.
Comprising of a brand-customisable, highly-intuitive digital menu for customers, and a suite of easy-to-use management tools for operators, Wi5 is designed to help operators boost profitability by improving operational efficiencies and increasing frequency and average value of orders.
Built on architecture optimised for scale, Wi5 is simple to deploy and is offered both directly to operators and through third parties.
Wi5 is helping industry-leading operators such as Pizza Pilgrims, BOXPARK, Pho and New World Trading Company serve customers safely, increase sales and reduce operational inefficiencies. Wi5 is the hospitality industry’s most secure mobile Order & Pay software solution and the only one with ISO/IEC 27001 information security certification.