The pivot that took WhyQ from high burn to net profit

The chocolate chip cookie was said to have been invented when a baker ran out of baker’s chocolate while making cookies and resorted to chopping up a chocolate bar instead. Now, no bakery worth its salt doesn’t have the classic snack on its menu.

Similarly, WhyQ built its corporate catering business while searching for an alternative.

WhyQ co-founders Rishabh Singhvi (left) and Varun Saraf / Photo credit: WhyQ

When the Singapore-based company started in 2016, it aggregated individual hawker orders from office workers in the central business district (CBD). The pitch was simple: Users can enjoy their favorite hawker meals without spending an entire lunch break waiting in line in the sweltering heat.

When offices closed during the Covid-19 pandemic, WhyQ pivoted to making residential deliveries. Order volumes skyrocketed, but the underlying unit economics were unsustainable as the operations needed more delivery riders, co-founders Varun Saraf and Rishabh Singhvi tell Tech in Asia.

With runway shrinking, the founders pivoted to a B2B-first model that has since paid off.

The company is net profitable during the 2025 calendar year, and expects to make a full-year net profit from the financial year running April 2025 through March 2026, says Saraf, who is also the company’s CEO.

He attributes this milestone to the company’s increased client base and its capability to aggregate on a greater scale, helping drive delivery costs down.

Based on the fourth quarter of last year, WhyQ is on track to hit around US$3.9 million in revenue for FY 2026, the founders add.

From burn to profit

Today, the Delivery Hero-backed firm operates exclusively as a B2B platform, working with over 500 merchant partners, including hawker and casual restaurants. It delivers more than 2,500 meals daily to corporate clients.

Photo credit: WhyQ

In addition to the CBD, WhyQ’s deliveries span other business districts in Singapore like Pasir Panjang, Science Park, and Paya Lebar Quarter. Orders range from S$8 to S$25 (US$6.30 to US$19.50) per meal.

About 20% of WhyQ’s corporate orders continues to come from hawker partners. The remaining 80% is driven by curated restaurant brands such as SaladStop, KFC, and Pizza Hut.

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