It will use funds to accelerate growth in Singapore and Hong Kong, ramp up key hires and speed up product development
HK-based online catering platform CaterSpot has announced that it has raised US$800,000 of funding in a seed round led by Triplestar Capital, with the Swiss Founders Fund participating.
The funds will be used to accelerate growth — including growing its client base and pool of caterers — in Singapore and Hong Kong, ramp up key hires and speed up product development.
Launched in January 2016, CaterSpot is an online marketplace headquartered in Hong Kong with offices in Singapore. It connects customers to catering companies and restaurants.
Camilo Paredes, CEO and Co-founder of CaterSpot (also Co-founder of mobile marketplace Duriana and Ex-Managing Director of the Latin America arm of food delivery platform foodpanda) said that it has partnered with over 200 providers, with 150 of them already live on the platform.
These caterers offer a combined total of over 1,000 catering menus to customers. Among the catering options are buffets, mini buffets, bento boxes, party packages, and live stations.
The platform also lets users filter down the list of caterers by budgets, types of food, occasions and services.
“We focus on curation versus being a directory of caterers. We make sure to only onboard trusted catering providers who have great and unique food and a good service,” said Paredes.
“We also partner not only with catering companies but with top restaurants, and this will also expand the catering options available in the market. We’re helping bring visibility to restaurants’ catering offerings and even helping them craft a catering service with restaurants from scratch,” he added.
CaterSpot has already attracted the patronage of companies including startups, universities, law and consulting firms, banks and fortune 500s. Some examples are the Boston Consulting Group, UBS, PwC, Canva, P&G, and Allen & Gledhill.
In the coming months, CaterSpot plans to launch several B2B features to help corporate clients place orders and feed their teams and events. It also aims to penetrate several markets in Asia and Australia.
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