News / 23 June 2015

Malaysia’s Offpeak secures US$800K Series A funding from Gobi Partners

By Yon Heong Tung

e27

 

Malaysia-based dining app, Offpeak, has announced that it has secured US$800,000 in Series A funding from sole investor, Gobi Partners.

Offpeak, which caters to more than 600 eateries and has served over 50,000 diners, aims to use these funds to expand into new markets within Southeast Asia and establish local teams and ramp up marketing efforts. Currently, it is only available in major cities in Malaysia, but will soon be established in Thailand.

Launched in August 2014 by Co-founders Tan Ban Eu and Lau Ngee Kong, and Tan Ee, Business Development Director; Offpeak is an online platform that offers restaurant booking and dining privileges in the form of segmented discounts throughout the day.

The advantages of Offpeak

The goal is to help restaurant owners increase their business revenue, by allowing them to optimise their operating hours and serve more customers. It will also help to improve crowd-management and adjust operations based on the customers’ eating and spending patterns.

Available on both Android and iOS devices, the Offpeak app provides dining suggestions based on the customer’s location and eating preferences, as well as the time and day. Customers will also have the option to make dining reservations as late as 10 minutes or as early as one month before the dining time-slot.

“We have achieved much of our first year’s growth plan within the first six months, since our launch and have set out on our next phase of expansion plans across Malaysia and the region. We are excited with Gobi Partners coming onboard, as this will certainly leapfrog our business plans”, said Lau Ngee Keong, Co-founder, Offpeak.

“Offpeak offers a smart and functional solution to operational cost issues that restaurants regularly face, while also providing a one-stop food place for consumers who want to dine out,” said Thomas G. Tsao, Managing Partner, Gobi Partners, “By being able to meet the needs of both restaurants and customers in such an elegant and practical way, we are confident that Offpeak is well-positioned for success,” he concluded.

 

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