JTA NEWS
20 August 2019 - 19 Av 5779 - י"ט אב ה' אלפים תשע"ט
JTA NEWS :
Shiji Group acquires Tel-Aviv based MyCheck E-mail

Beijing-headquartered Shiji Group, which provides software and services for the hospitality, retail, and entertainment industries, will acquire Tel-Aviv-based MyCheck.

Otherwise incorporated as Quick Check, the company announced the acquisition in June. No financial data of the deal was disclosed.

MyCheck, which offers a mobile payment app with a focus on the hospitality industry, was co-founded in 2011 by CEOs Shlomit Kugler, Tal Nethanel, Erez Spatz, and Asaf Talmor Wertheimer (the stepson of Israeli businessman Eitan Wertheimer, who also invested in the company).

In 2015, after raising over US$20 million, the company pivoted from a B2B product to a B2C product. In late 2017 the company ran into financial trouble as stakeholders barred further investments, leading the company to request — and receive — a stay of proceedings order in February 2018.

A month later the company was acquired for NIS 4.6 million by O.G. Tech Partners, an early stage fund owned by Israeli real estate and shipping magnate Eyal Ofer.

“The company has been on a growth trajectory in the past year,” Kugler said, “In a large part thanks to the connections of the Ofer Global group in the hospitality industry. [Thanks to them,] We have gained customers in the UK and in Asia.”

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