Restaurant recommendation app Siksin raises USD 4M to increase its user base

Siksin, a restaurant-recommendation app, recently raised USD 4 million in funding from HB Investment Inc. The accumulated amount of funding that Siksin has raised now stands at USD 9 million.

Siksin allows users to leave honest feedback on restaurants and recommend places to eat. Currently, more than 50,000 restaurants are registered on the app, and more than 2.5 million people use the platform each month.

One of the app’s products is Siksin e-Sikgwon is a mobile meal ticket service for companies. As of now, 150 companies made up of 50,000 people are using the service. The platform aims to have more than 450 companies and 500,000 users by next year.

Another product, Siksin Hero, is a delivery service for restaurants or cafes that do not offer delivery services. There are 157 branch offices with 15,000 delivery drivers using Siksin e-Sikgwon in areas like Gangnam, Seocho, Nowon, and Ilsan. Maps will be available from November, and Siksin Hero plans to expand its area options by the middle of next year.

Siksin also offers a certificate system for rating restaurants, much like the Michelin guide. More than 4,500 restaurants are now eligible for a certificate, but only 70 of those are especially popular.

Byeongik Ahn, CEO of Siksin, mentioned that the company will use the funding to speed up the business’s expansion and solidify its place atop the food tech marketplace in Korea.

This article, entitled “Restaurant recommendation app Siksin raises USD 4M to increase its user base”, was written in Korean by Platum, edited by AllTechAsia.

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