In an early sign that merger and acquisition activity is about to ramp up in the startup sector in order for companies to survive, Sydney-headquartered courier delivery service Drive Yello has merged with the cafe payments platform Hey You.
The merged entity is known as 4You Innovation, and hopes to hit up the market for more cash in the new year, seeking up to $15 million.
Drive Yello last raised $1.5 million in a Series A from Tidal Ventures in 2018, and amassed $7.7 million in venture capital in total since its launch in 2014. Hey You began life in 2012 as Beat the Q before merging with Posse, and E-Coffee Card in 2014, then rebranded in 2015 after raising $5 million. It most recently $2 million in a Series B in 2016 and counts Reinv…
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