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Tiger Global

Tiger Global invests $3 Mn in restaurant ordering streamliner CheckMate

Tiger Global

After raising $3.75 billion for its 11th fund, New York-based investment firm Tiger Global Management has made its first investment of $3 million in CheckMate. The two-and-half-year-old startup integrates a slew of online ordering services into POS systems for restaurants.

This is also a comeback for Tiger Global that has been planning to target consumer internet-based startups along with direct-to-customer companies, cloud and industry-focused tech in countries like India, China, and the US.

The Vishal Agarwal-led startup has a 25 member operational and tech team based out of India and over 10 member team distributed across the US, mainly New York.

According to a TechCrunch report, the fresh funds will be deployed towards doubling down R&D and integrating more customers on its platform. Before this round, the firm has been purely bootstrapped.

CheckMate makes the process of accepting orders from online ordering platforms and delivery services very efficient. It integrates online ordering sources such as UberEats, GrubHub, Caviar, DoorDash, and others directly to restaurant POS systems including Brink, Toast, and Revel at a fix monthly pricing.

With a zero set up fee offering, CheckMate charges $85 per month per location for up to 2 platforms and $100 per month per location for unlimited platforms. In addition, there is no per transaction pricing.

Globally, CheckMate competes with Ordermark and Ingest.ai.

As of now, Tiger Global has been generally focussing on mid to late-stage funds. In India, it had made a huge investment in Flipkart and counts Ola in its portfolio along with Delhivery, Nestaway, Grofers, and Chaayos.

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