Clopos raises $294K convertible round led by SABAH.angels, its first local bet
What's the deal? CloposDealroom has a profile for this one. Try Dealroom →, a restaurant-management software company founded by Azerbaijani entrepreneurs, has raised AZN 500,000 (about $294,000) in a convertible round led by the SABAH.angels business angel club. The money will fund international expansion and a push into financial products for the food-service industry.
What's the endgame? Founded in 2018, Clopos offers cloud-based point-of-sale and management tools that let restaurants and cafés handle sales, payments, inventory and finances in one system. It now serves more than 4,500 customers across over 13 countries, with headquarters in New York and an R&D centre in Baku.
Where's it growing? Clopos runs offices in Azerbaijan, Uzbekistan, Kazakhstan and Türkiye, has entered Kyrgyzstan, and is preparing launches in Georgia and Tajikistan. In Kazakhstan, its team onboarded 100 clients in three months, aided by a partnership with Bank CenterCreditDealroom has a profile for this one. Try Dealroom →.
What's new in product? In Azerbaijan, Clopos partnered with BirbankDealroom has a profile for this one. Try Dealroom → on Clopos Pay, which lets guests settle bills without traditional payment terminals. The company says more than 30 establishments have adopted it, adding a transaction-based revenue line.
Why now? The round is SABAH.angels' fifth deal and its first in a locally founded startup, directing local capital toward an Azerbaijani company already selling abroad. It follows an earlier $800,000 round and an April investment from INMerge VenturesDealroom has a profile for this one. Try Dealroom → backing product development and regional growth.
The signal: At roughly $294,000, the round is modest by global standards, but it marks a step in building local backing for startups in Azerbaijan. For IT Park VenturesDealroom has a profile for this one. Try Dealroom →, it shows how a portfolio company can scale a proven B2B product while layering on new business lines.
Read more: itparkventures.uz
Image credit: Generated with Gemini
