Flypay to “transform hospitality” with £7m Time Out investment
UK-based pay-at-table app has recently been working with Apple for projects on mobile payments
Pay-at-table bar and restaurant app Flypay has today announced a £7m Series A round led by media giant Time Out to “transform hospitality payments globally”.
Founded in 2013 by Tom Weaver and Chris Evans, Flypay has developed software which enables customers to check, split and pay their bill from their smartphone in under a minute, without needing to find a waiter.
Its technology is currently available in over 100 restaurants and bars across the UK including Wahaca, Cabana, Gourmet Burger Kitchen, Jamie’s Italian, Burrito Mama and Drake & Morgan, and will be available shortly in Dirty Burger, Chilango and selected Fullers pubs.
Having previously raised £1m from venture capital firm Entrée Capital and angel investors in March 2014, the payments company plans to use this latest investment to further develop its technology, attract new customers and sign up more restaurant operators.
Flypay CEO, Weaver, commented: “It’s been a phenomenal two years for the business, as operators within the hospitality industry look to become early adopters of our technology to greatly enhance the dining out experience for their customers. This investment, coupled with a strategic partnership with Time Out, will allow us to rapidly deploy our solution for both operators and users around the world.”
As part of the deal, Flypay's technology will be integrated with Time Out's platform.
Time Out European managing director, Noel Penzer, said:
“This investment exemplifies the transition of Time Out from a traditional media brand to a truly engaging hyper local mobile commerce platform. You can now find the perfect night out, book it or pay for it, have an amazing experience and then share it with your friends. We'll even help you get your taxi home. Your social life, simply made better.”