Leaving the corporate world to start your own business can be daunting enough. But choosing to embark on a new career in the high-growth, fast-paced and innovation-driven technology startup scene is a whole other ball game. For many, it’s exciting and every day is a learning curve with new opportunities to grow or pivot your Read More…
Hospitality startup me&u supported by Justin Hemmes & Tyro in $8m raise
Robbie Cooke, Stevan Premutico, Justin Hemmes
Mon 9 December 2019 - 5:08 pmStartup
New Australian startup, me&u, which simplifies mobile ordering & payments for cafes, restaurants and bars, has recently announced an AUD$8 million Series B funding round.
Founder of me&u Stevan Premutico, who previously founded restaurant booking platform Dimmi, said that he is now ready to deliver me&u’s ambition “of improving hospitality experiences, removing the friction of ordering & payment and boosting the efficiency of this great industry.”
Merivale’s Justin Hemmes and Chief Executive Officer of Tyro Payments, Robbie Cooke, are both supporting the young startup with Hemmes agreeing to roll out the product across his suitable venues and Cooke joining me&u’s board of directors.
“Merivale will play a key role to ensure we continue to design a solution that solves some of the industry’s biggest problems and helps to elevate the customer experience,” Stevan said.
“Justin is a visionary in the hospitality industry and we will welcome his active engagement in our venture.
“Robbie and the Tyro team bring years of experience from being deeply connected as the payment provider for 8,500 hospitality venues across Australia so there is a very clear synergy.”
Stevan talks more about founding me&u after his success with Dimmi, in our podcast episode.
This round of capital raising adds to an already impressive line-up of investors including:
- Cliff Rosenberg (NED Afterpay, ex NED Dimmi, ex MD Linkedin APAC)
- William Easton (MD Facebook Australia, ex NED Dimmi)
- Jason Pellegrino (ex MD Google Aus, Domain CEO)
- Mike Abbott (co-founder Uber Australia)
- Tim Reed (President Business Council Australia, ex CEO MYOB)
- Neil Perry (celebrity chef)
- John Szangolies (restaurant entrepreneur and founder of Urban Purveyor Group)
Early next year the roll-out of me&u will begin across Merivale venues and Tyro will also become the main payment provider for the app.
Robbie Cooke said, “I witnessed the growth and homegrown technology success of Dimmi for which I have enormous admiration. Tyro is one of the largest providers of payment and e-commerce solutions to restaurants and cafes making this partnership with Stevan compelling.
“Together we can continue to innovate and challenge the status quo and revolutionisethe customer experience and drive great merchant outcomes.”
The startup is growing fast with the app now available at a number of Australia’s leading hospitality brands including The Rockpool Group, The Opera Bar, Fratelli Fresh, Colonial Leisure Group, The Golden Sheaf, El Camino, Barangaroo House, Beerhaus by Bavarian and The Sonoma Group.
me&u is generating up to 50% uptake in venues and spend increases as high as 30% when customers use me&u.
Justin Hemmes said, “Two years ago when Stevan and I met for a coffee we discussed the friction of ordering & payment as being a big issue we wanted to solve.
“It’s great to be here now with an innovative and cutting-edge product that can help us further improve customer experiences in our venues.
“Staff will be able to better assist customers instead of spending time on payments and splitting bills. This is a huge industry wide issue.”