Loke secures £2.9 million in a series A round led by Guinness Asset Management.

Loke, a London, UK and Victoria, Australia-based software developer of a suite for the hospitality business, announced completing a series A funding round of £2.85M ($3.9).

The money was raised from investors led by Guinness Asset Management.

Loke, led by co-CEO Matt Khoury, developed a suite of digital sales and marketing tools that provide hospitality and retail businesses with access to new revenue channels, increasing the average order value, frequency of transactions and reduce labour costs.

The company say it has an integrated network of independent third-party drivers that offers hospitality businesses a cost-competitive alternative for delivery, saving businesses up to 80 per cent in cost while protecting their customer information. This is important because restaurants can pay up to 30 per cent of their revenue to consumer delivery apps, who then also have access to their customer data.

The company works with customers from the UK, Australia, Singapore and New Zealand, and include Baskin Robbins, City Pub Group, Australian Venue Co, Ya Kun Kaya Toast, Shake Shack and Greene King, along with hundreds of others ranging from single site businesses to groups with 200+ locations.