Alipay invests $15 million in Singapore’s F&B tech startup Chope with a partnership for F&B digitalization

Singapore-based restaurant booking platform Chope has tied up with China’s tech giant Alipay operated by Ant Group to allow the F&B (food and beverages) business to build their mini apps on Chope’s platform.

The companies have entered into this strategic partnership with Alipay infusing $15 million funding to accelerate the digitalization of their F&B business across Asia.

With this partnership, Chope becomes Alipay’s platform partner with the capability to integrate a plethora of mini programs faster and with flexibility. Thus enhancing the scalability and functionality of Chope’s platform. Alipay under this deal will provide Chope with its Software-as-a-Service mini program and know-how.

This integration will allow businesses of all sizes to integrate into the Chope app through mini programs which are cost-effective, highly customizable, and are easy to build. This will enable the F&B operators to reach millions of users on Chope’s platform while leveraging Alipay’s innovative technology.

This partnership deal has come at a time when the food and beverages industry continues to tackle the challenges brought about by the ongoing pandemic.

According to the CEO of The Chope Group, Arrif Ziaudeen, the COVID-19 pandemic has given a boost to the adoption of digital solutions and services among the food and beverage operators. The digitalization has become the need of the hour not only to remain competitive but to survive. With this partnership they are looking for the F&B industry’s recovery and growth.

Alipay’s teaming up with Chope, the region’s leading F&B tech startup is a testament of Chope’s strong reputation and position in the region.

About Chope

Chope founded in 2011 by Arrif Ziauddin offers a platform that enables users to locate and reserve a restaurant in Singapore, Bangkok, Phuket, Hong Kong, Beijing, Shanghai, Bali, and Jakarta through its website, mobile app and plug-ins.

The startup offers two solutions for restaurants; a refined table management system that integrates a lighter browser-based platform and customer relationship management functions. Both the solutions offer real-time control over their online availability.

Additionally, Chope offers its diners menus, pricing, in-house editorials, a summary of press coverage, and operational information about the listed restaurants. Besides that, it serves as an additional marketing channel for client restaurants through an active social team and targeted offline marketing initiatives.

Chope has 5000 restaurant partners and has seated over 83 million diners to date. The startup is backed by leading tech investors and venture capitalists.

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About Alipay

China’s tech titan Alipay was founded in 2004. It offers a mobile and online payments platform. The company presently works with more than 200 domestic financial institution partners. Alipay’s users can book a hotel, pay utility bills, hire a taxi, make an appointment with the doctor, buy movie tickets, and can even buy wealth management products directly from their app.

Alipay also offers in-store offline payments that cover more than 40 countries and it also supports tax reimbursement in 29 countries. The company works with more than 250 overseas financial institutions and payment solution providers.

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