TallOrder, a POS startup in SA secured extra $3.1 M in Series A to help accelerate its expansion
TallOrder, a creator of superior cloud-based point of sale (POS) systems for the SME sector in South Africa, has secured an additional ZAR47 million (US $3.1 million) in Series A investment to accelerate expansion and product development.
TallOrder POS, which can be used on Windows, iOS, and Android smartphones, was launched in 2014 and integrates with prominent payment platforms such as SnapScan, Zapper, MasterPass, Yoco, ThumbzUp, MTN MoMo, Innervation, African Resonance, NetCash, DPO, and PayFast.
TallOrder is a cloud-based solution that can be used by retailers, service companies, and hospitality businesses in Africa. The cloud-based solution is ideal for SMEs who may not have the time or resources to deal with internet security, on- and offsite backups, disaster recovery, and keeping software, databases, and integrations up to date. TallOrder has created an offering for the hotel and guest house business for the international market.
In South Africa, African markets such as Uganda, Ghana, Kenya, Tanzania, Malawi, Zambia, Zimbabwe, Mozambique, Botswana, and the Seychelles, and Asian markets such as Indonesia, the startup has installations across a wide range of business types, and it now plans to expand further after raising additional Series A funding.
TallOrder has now raised a total of ZAR80 million (US$5.3 million) through this funding transaction.
Existing investors such as Investec Private Capital and a consortium formed by Africa-focused technology investment firm Nurture Investment Management contributed to the funding. Valentine Chitalu, a seasoned pan-African investor, is part of Nurture’s consortium of family offices and high net worth people.
“Developing a robust, feature-rich and widely adaptable cloud POS solution takes a lot of development effort, both in terms of money and time. Investors have been keen to invest in the next generation of cloud-based point of sale systems, as the global market is vast and the growth opportunities massive” said Dana Buys, CEO and co-founder of TallOrder.
He stated that the startup’s primary emphasis will now be on swiftly expanding its local and international client base.
“We are pleased to make this significant investment into what we believe is a category-defining software-as-a-service company alongside Dana and the existing shareholders. We look forward to supporting the African — and ultimately global — expansion of TallOrder over the next few years,” said Nurture’s co-founder and managing partner Tatenda Mutizwa.
