The company behind US mobile ordering app Tapingo raised $22 million from investors, capitalising on what has become an increasingly popular feature of the payments market.
Leading fast food chains and coffee shops, such as KFC and Starbucks, are among those enthusiastic about mobile ordering, although Tapingo has developed a niche serving college students in the US.
With its new wad of cash, the firm intends to expand. “First, we want every single college in the United States – and beyond – to experience Tapingo. We are going to finish what we started last year and bring Tapingo to college students across the nation,” said its blog.
In addition, the firm wants to expand outside the food market. “We also want to give you more from Tapingo. Like more food options, more stuff to buy that isn’t food, and brand new places where you thought you’d never be able to use Tapingo,” it said.
Tapingo’s Series C round of $22 million was led by Qualcomm Ventures, DCM Ventures and Kinzon, alongside existing investors Khosla Ventures and Carmel Ventures. Total funding to date is $36 million.