TallOrder Solutions, a technology company co-founded and led by South African IT industry veteran Dana Buys, has announced it has raised R47-million in additional series-A funding.
This takes the total raised by TallOrder, which develops cloud-based point-of-sale solutions for the small and medium enterprise market, to R80-million.
TallOrder, which was founded in late 2014, will use the latest capital injection to “accelerate growth and product development”, the company said.
The money was raised from existing investors, including Investec Private Capital, as well as a consortium led by Africa-focused fintech investment firm Nurture Investment Management. Nurture’s consortium consists of family offices and high-net-worth individuals.
Buys said in a statement that the global market for feature-rich and widely adaptable cloud POS solutions is “vast”. Such solutions are faster to deploy and are generally billed monthly, which makes them “generally more competitively priced”, he added.
“Most US cloud POS providers are payment processors at the core, while TallOrder has taken a merchant-centric approach, offering integration with popular payment platforms such as SnapScan, Zapper, MasterPass, Yoco, ThumbzUp, MTN MoMo, Innervation, African Resonance, NetCash, DPO and PayFast,” Buys said.
TallOrder can be deployed on Windows-, iOS- and Android-based devices. Add-ons include a e-store for those who want to accept takeaway orders and offer free deliveries, an interactive order management display system, customer-facing displays with support for QR code payments and digital signage for dynamic in-store promotions.
“For the sub-Saharan Africa market, we had to build a cloud POS with solid offline capacity, as the continent’s Internet tends to be slower, more expensive and less reliable than that of developed countries, where the cloud access is fast, cheap and always-on. We have focused on building deep integrations to the popular SME local cloud accounting systems from Xero and Sage, as well as to local loyalty and reward systems,” Buys said.
For the international market, TallOrder is focused on the 10- to 100-room hotel/lodge/resort/guesthouse market. “This large market is rapidly embracing the benefits of the cloud solutions on offer, as hospitality operations are restructured following the massive impact of the Covid-19 pandemic.” — © 2022 NewsCentral Media