The contactless payment company Sunday raised $ 100 million in a Series A financing round, giving the barely 5-month-old startup that wants to become the PayPal restaurant for restaurants more dynamic.
The company started in April behind a $ 24 million starting round with the goal of making it easier for guests to pay the bill. Sunday uses QR codes so diners can pay, split check and tip in less than 10 seconds.
More than 1 million people have used the product in more than 1,500 restaurants worldwide, the company said. Initial results show that transactions on Sunday lead to larger tickets, faster table changes and larger tips.
The company will use the funds to recruit more restaurants, add new features, and integrate with more POS providers. It also said it will be looking for « selective » M&A opportunities in North America.
« This new round of investments is a remarkable opportunity for Sunday to build a powerful tech stack and develop new product features such as ordering and loyalty programs « Said Christine de Wendel, co-founder and US CEO of the company, in a statement. « It also allows us to accelerate in the US market by expanding our sales, operations and partnership teams. »
The company added former Uber and DoorDash employees to its leadership team last month and plans to to double its workforce in the next twelve months.
De Wendel said Sunday’s is to become a global business-to-consumer brand along the lines of PayPal or Venmo, with a consumer app that enables even faster payments Would.
Tech investor Coatue, a former backer to DoorDash, Instacart and other big tech companies, led the way.
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