FoodRazor raises US$900K led by Cocoon Capital
FoodRazor, the invoice management platform based in Singapore, announced that it has raised a US$900,000 seed financing round led by early-stage venture capital firm Cocoon Capital alongside Found.Ventures and angel investors.
Niles Toh, CEO, and Founder of FoodRazor, said that the company will use the fund to support FoodRazor’s expansion into new markets and to support other invoice-heavy industries such as accounting, manufacturing, and logistics.
FoodRazor offers an end-to-end online platform that seeks to address the pain point of F&B operators by saving time on menial data entry tasks and helping make smarter purchase decisions. It digitises the entire invoice management process as well as provides restaurants with actionable insights, price analytics, and streamlining of the accounting workflow by scanning and extracting information from paper receipts and imports each line item to leading accounting software packages.