Philippine: Mosaic Solutions, a Philippines-based tech startup offering cloud-based management software for F&B and hospitality companies, announced today it has raised an additional US$1 million in a pre-Series A preferred equity offering.
The fresh funds were provided by Gentree, a VC fund launched by a prominent Filipino family to support new digital economy startups in the Southeast Asian region. Mosaic shared the fresh additional funds will go towards fuelling its regional expansion across Southeast Asia.
Launched in 2016, Mosaic provides “cloud-based profit optimization” solutions for F&B, retail, and hospitality industries across the Philippines, Singapore, and Vietnam, with a primary focus on the Philippines. The firm noted its cloud-based product suite includes data analytics, inventory management, point of sale, and purchasing.
Mosaic shared its clients include multi-unit restaurant and bar groups, hotels and retailers including supermarkets and convenience stores, and its subscription-based platform helps companies digitalize their daily operations, driving improvement in profit margin.
“While the global pandemic has been a catalyst for digital transformation in the Philippines and across ASEAN countries, there are still strides to be made for our industry to be truly digitized and more efficient,” commented Brett Doyle, Founder & CEO of Mosaic.