Fintech start-up launches after establishing first base

A pioneering fintech startup, Olouris, specialising in cloud-based point-of-sale software tailored for the hospitality industry, has recently marked its official launch by establishing its first office in Coventry.

Olouris, known for its innovative mobile point of sale (mPOS) service, has chosen the Business Innovation Centre, Binley, a segment of the University of Warwick Science Park, as its operational base. The company’s mPOS service is available as an app that can be downloaded and used on smartphones or tablets.

This cutting-edge app enables restaurants to forego traditional cash registers for processing customer orders and payments, instead using the same device for accepting contactless payments, including ApplePay and Google Pay.

Ahmed Sadeeq, the technology delivery lead at Olouris, commented on the company’s unique approach: “Feedback from potential customers showed that traditional EPOS terminals were often considered too costly and provided little flexibility. Olouris’s focus on mPOS means our customers only require a smartphone or tablet to get started – all they’d need to do is download our app and create an account. This is a huge advantage to businesses as they don’t need to invest in costly hardware to get a POS setup. We’ve already had very positive conversations with interested clients, and we’re confident of growing our customer base as single and multi-outlet companies see the benefit of what we can offer.”

Victoria Lynch, the centre manager at the Business Innovation Centre, spoke highly of Olouris’s choice of location: “Our Ignite incubator offices were perfect for Olouris in its current stage. We have regularly seen companies starting out in our Ignite offices quickly outgrow them to move into bigger spaces within the Business Innovation Centre following the business advice and support we provide as part of the programme. It’s great to see Olouris has settled in so quickly and we’re looking forward to helping Ahmed and the team grow the firm during their time here.”