Montreal-based MYR, formerly Koomi POS, has secured C$1.25 million in a seed-stage financing. The round was led by family office Segovia Capital, whose CEO Lester Fernandes will join the board. MYR is a provider of point-of-sale solutions to quick-service restaurants.
Montreal, Canada – May 12, 2021 Koomi POS, the leading POS solution for Canadian quick-service restaurants (“QSR”), will begin operating under a new name: MYR (Master Your Rush). Alongside this change, MYR has released a new company logo and launched a new website (https://www.myr.io/). The rebranding marks a revitalization of corporate vision at a time of accelerated growth for the company, including the adoption of its optimum POS technology in more than 1,000 restaurant locations. MYR’s momentous development reflects the increasing demand for efficient, cloud-based ordering platforms as restaurants transition from in-person dining to online delivery and take-away.
MYR also announced its seed capital raise of $1.25 million to support its dynamic growth and continued expansion into the North American QSR franchise market. The seed funding round was led by Segovia Capital Ltd., a family office recognized for its investments in early-stage technology and software companies across North America.
Lester Fernandes, CEO of Segovia Capital Ltd., has been appointed to the MYR’s Board of Directors effective April 1, 2021, with MYR’s CEO David Nadezhdin. Mr. Fernandes brings to the Board decades of financial, entrepreneurial, acquisition, and strategic expertise and mentorship, particularly in the areas of investment/corporate banking and start-up enterprise. Prior to forming Segovia Capital Ltd., Mr. Fernandes was the CFO of Nuvei Corporation (formerly Pivotal Payments), a leader in electronic payment processing for SMB merchants. At Nuvei, Mr. Fernandes played an instrumental role in the company’s expansion, including attracting capital from Goldman Sachs, overseeing numerous acquisitions, and selling majority control to a Canadian private equity group. In 2020, Nuvei successfully went public with a business valuation of more than $5 billion.
Founded in 2016, MYR, Master Your Rush is a 100% cloud-based POS system made specifically for quick-service and takeaway restaurants. MYR is the first POS solution to allow restaurants to fully bridge mobile, online, and regular ordering. MYR’s iOS platform streamlines the entire process of order entry, creating one of the fastest, most robust systems for any restaurant with a line-up.