Kim Teo of Mr Yum will lead the combined company.Rival start-ups Mr Yum and meu have finalised a deal to combine the two QR code ordering businesses in an all-stock merger that will pool their cash reserves to fund an international expansion.in May, is still subject to shareholder approval and will create a combined business that generates $US25 million in annual revenue from processing more than $2 billion of restaurant transactions from 6000 venues in Australia, New Zealand, the UK and US.
Ms Teo said the new venture was offered fresh capital from both existing shareholder groups as part of the transaction but chose not to take it, opting to wait until the business was cash flow positive in 2024 before tapping investors again. “It was a bit like a first date. I walked out of that thinking he’s a good guy and we are fighting the same fight,” Mr Premutico said.