Capital investment firm Strive Capital has made a “significant” investment into mobile food and drink ordering app Fetch as it bets on continuing social distancing measures due to the pandemic.
Customers can use the Fetch app to place orders and pay at their café or restaurant table to maintain social distancing.
UK-based Fetch takes a 5% fee on all orders and handles all cards processing fees. The app uses precise location technology so that staff can find customers at their tables without having to enter table numbers.
Some hospitality businesses have their own bespoke ordering apps, such as pub chain Weatherspoons. However, the upfront capital investment is often too high for smaller independent hospitality businesses.
As such, the coronavirus pandemic has been a boon for off-the-shelf order at table apps including Fetch, OrderPay and Pepper HQ.
Fetch is already being deployed by hospitality businesses in the UK and Germany. The company plans to expand into new markets over the next five years. The Fetch app also gives restaurants data on customer purchasing habits
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As part of the deal Strive Capital co-founder Andrew Harman will join the Fetch board as a key advisor. Strive Capital did not disclose the investment amount.
Harman said: “The recent pandemic has propelled the need for new technology solutions and Fetch sits at the forefront of this movement. Fetch will not only give peace-of-mind for guests but will also provide hospitality venues with the means to deliver a seamless customer experience.
He added that he believes Fetch can “help aid the recovery of the hospitality industry”.
Jason Jefferys, co-founder and CEO of Fetch, said: “This year has been extremely challenging for the hospitality sector and I am proud to be working with such a brilliant team at Fetch that is developing world-class technology solutions to help businesses do more with less. This investment will help bring these solutions to the market even faster.”
Harman, who founded managed services provider Annodata, added that he would bring his prior IT, business and hospitality knowledge to the role.
Strive Capital, which specialises in technology and business services, has been pursuing a growth strategy in which it takes majority or significant minority positions in technology businesses.
It recently acquired education-specialist Apple reseller, Academia. Its portfolio skews towards mobile apps and software, such as Keepsafe, an app designed to give people more control over their personal media.