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May 24, 2022
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Featured Fintech funding HÍREK VILÁG ANGOL

This fintech wants to become the PayPal of restaurants, nets $100M in 5 months after launch

Sunday is a spin-off of Big Mamma that lets users pay at a restaurant in less than 10 seconds while the process traditionally takes 15 minutes. Now, the fastest restaurant paying solution has bagged $100 million in a Series A equity financing round.

UK growth plans

The investment round in Sunday was led by Coatue, Partners of DST Global and several other high-profile investors from the hotel, restaurant, hospitality and technology industries. Notably, this is the company’s second round of financing as it raised nearly £15 million back in April this year at the time of its launch.

Sunday will use the capital to accelerate its growth and expansion with a highly promising, $7.5 trillion addressable market. Also, the new funding will help the company expand its geographic presence and recruitment in Europe & North America, expand its product offer to ordering, payment and loyalty through internal development and acquisition in Europe & North America, get 100 POSes integrated and 15,000 restaurants signed by the end of 2022.

Furthermore, with this Series A financing, Sunday plans to double the number of team members over the next 12 months with a focus on rapidly expanding the Sales and Ops team in the UK.

“This new investment round is a remarkable opportunity for Sunday to build a powerful tech stack and develop new product features such as ordering & loyalty programs. It also allows us to accelerate in the US market by growing our Sales, Operations and Partnerships teams,” said Christine de Wendel, co-founder and CEO US at Sunday. “We are now in a very good position to hire top talent to drive the speed and stellar execution needed to succeed.”

Anthony Hood, CEO at Farm Girls said: “We recently launched with sunday on the 1st of September after a very pain free integration with our tills. Ten days in and already we notice significantly enhanced customer experience through quicker and more efficient payments resulting in faster table turnover and more direct tips to the waiters/waitresses who served them.”

“Digital payment solutions are enhancing the customer experience across the board,” said Philippe Laffont, Founder of Coatue.“We believe that Sunday is well positioned to drive this change in the large hospitality sector as evidenced by its strong global growth in just the first five months since going to market. We look forward to supporting the team to help further accelerate their expansion.”

“We are honored that this funding round is happening so quickly after our seed round, recognizing the value that we provide and that we will create for restaurateurs, their customers and the incredible potential of the addressable market value,” said Victor Lugger, CEO of Sunday.

Fastest restaurant paying solution

Founded by Big Mamma founders – Victor Lugger and Tigrane Seydoux along with Christine de Wendel in April 2021, Sunday works with an impressive list of partners, including the till systems (POS, Point of Sale) offering the best technologies and services to restaurants in the UK, such as Lightspeed, Tevalis, EPOSNow, Zonal, Comtrex and Quadranet.

Also, it works with world-class partners to make payments possible for all your customers, whether it’s with their virtual wallet (Google Pay, Apple Pay) or with their physical bank card (Visa, Mastercard or AmEx). splitting and tipping could not be easier with an interface that is user-friendly and intuitive. This quick and seamless payment solution is available on the tables of a number of well-loved restaurants, including Bellanger, Maison François, Fego, Farm Girls and many more.

 

The post This fintech wants to become the PayPal of restaurants, nets $100M in 5 months after launch appeared first on UKTN (UK Tech News).

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