Covid-19 was declared a pandemic. StoreHub, whose cloud-based POS (point of sale) system helps restaurants and retailers digitize business, was serving 13,000 customers across Southeast Asia and wanted to use the capital to push expansion.“They adapted their product overnight to enable food delivery because that’s what customers needed," says Ben Mathias, managing partner at Vertex Ventures.It’s crucial for startups to maintain their customer base during the downturn.
Some are accepting deferred or revenue-linked payments to stay with their customers through the hard times. StoreHub’s POS-integrated Beep Delivery app, which was developed in a jiffy, is an example of going the extra mile.