GCV exits from QikServe generating a profitable return for investors
Growth Capital Ventures (GCV) and its private investor network have exited from QikServe after the digital ordering and payment solutions platform was acquired by The Access Group, providing a profitable return for all investors.
Since 2018, GCV has invested in QikServe on three separate occasions, recognising considerable potential in the company’s long-term vision - to transform the way individuals order and pay in restaurants globally.
Co-investing alongside companies including Maven Capital Partners and Par Equity, the acquisition by The Access Group marks a strategic move. QikServe has now become part of The Access Group’s hospitality division, which provides an array of digital solutions and services to the industry.
Champa Magesh, The Access Group’s Hospitality Division Managing Director, explained:
Our goal is to build an integrated hospitality suite of solutions, on a single platform, which helps operators deliver the best guest experience, makes them more effective and ultimately more profitable.
The acquisition of QikServe is an important step in bringing this vision to life through its innovative CMS, kiosk solution, connectivity and data orchestration capabilities.
Norm Peterson, CEO of GCV, commented:
The acquisition of QikServe by The Access Group marks the fourth exit in the GCV portfolio, and I am particularly excited about what the future holds for the company. We focus on backing teams that are motivated, committed and driven, and the QikServe team certainly embody all three of those traits.
The strategic acquisition by The Access Group is one that is beneficial for all involved, and I look forward to seeing the QikServe brand go from strength to strength.
Daniel Rodgers, co-founder of QikServe, expressed:
We are immensely thankful and proud of the QikServe team, whose passion, tireless dedication and hard work have driven our success, delivering technology for some of the most inspirational hospitality brands worldwide - without them, none of this would be possible.
Being part of The Access Group unlocks huge potential for both businesses, and we can’t wait to get started.
Growth Capital Ventures is an FCA authorised investment firm and venture builder. Through our private investor network, GCV Invest, we provide experienced investors with access to carefully selected alternative investment opportunities across venture capital, private equity and property.
Through GCV Labs, our venture builder division, we help founders to build, launch and scale businesses that transform industries.