South Korean Tablet Menu Provider Torder Raises $25M, Valued at $250M
Torder, a South Korean-based tablet menu service provider, has secured a Series B investment of approximately 30 billion KRW (about 25 million USD). Evaluated at around 100 billion KRW by LB Investment last year, Torder’s valuation has now surged to about 300 billion KRW, nearly tripling its previous value.
Korea Development Bank (KDB) and LB Investment participated in this investment, injecting around 13 billion KRW (roughly 11 million USD). Torder plans to conclude the Series B round with an additional investment of around 17 billion KRW (approximately 14 million USD) within a few weeks.
Investors in this round positively assessed Torder’s expansion into various sectors such as the hotel and advertising industries, beyond its initial focus on the restaurant sector. This enables it to serve multiple professions without constraints and rapidly expand into both domestic and overseas markets. This led to the decision to make a significant investment of around 30 billion KRW.
As a leading provider of SaaS-based table order services in the South Korean market, catering to large corporations, VAN companies, and POS providers, Torder plans to initiate its global expansion by establishing subsidiaries in the United States and Singapore in the first half of this year, following the establishment of its Canadian subsidiary last year.
Torder, the top player in the table order market in South Korea, distributes nearly 10,000 tablets monthly and aims to install 300,000 units by the end of this year.
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