From pasta to payments: Seasoned restaurateurs raise €20m for fintech
The founders of the popular Big Mama restaurant group have launched their own payment platform Sunday, allowing customers to pay their restaurant bills via QR code in a matter of seconds.
It seems as if fintech has trickled into another aspect of everyday life.
The founders of the Big Mamma restaurant group, Tigrane Seydoux and Victor Lugger are joining forces with Christine de Wendel to launch their latest venture.
To kickstart their new payment initiative, the trio have raised a €20m Seed round, led by Coatue and New Wave, for a new QR-based payment method, Sunday.
As more and more restaurants and other areas of hospitality have had to pivot to digital payments throughout the pandemic, businesses owners are increasingly looking for easier, more modern methods to help their pundits pay.
Sunday will allow customers to pay their restaurant bill in as little as ten seconds with a QR code, creating a smoother experience for both customers and the restaurants they frequent.
"It's simple: we do better for cheaper. For the customer it's great and for the restaurant owner and his staff it's great and profitable," Christine de Wendel, CEO and co-founder of Sunday said.
According to Big Mamma, 80 per cent of their customers choose to pay via QR code, resulting in a 15-minute reduction in wait times, 40 per cent more tips for waiters and a ten per cent increase on the average spend per table.
At first, Sunday will be available in all Big Mamma restaurants globally, including the Instagram-friendly Circolo Popolare and Gloria restaurants here in the UK.
As well as integrating it in its own restaurants, other notable eateries and hotels have signed onto the new payment method, including the Hoxton, JKS Group, Hoppers, Brigadiers, Gymkhana, Flors and Corbyn & King locations, The Wolseley, Bellanger, Colbert and Brasserie Zedel to name but a few.
“The end of a meal can so often be 'make or break' in the experience of a restaurant-goer,” CEO of Corbin and King, Jeremy King added.
“It doesn’t matter how good your welcome is, the quality of your food or friendly & efficient your service, if the payment becomes protracted or uncomfortable then that’s the lingering memory. Your staff will have more time to serve and your customers can more easily show their appreciation - Sunday is a Win-Win”
Already with international domination on the mind, Sunday is planning to roll out its payment method across the UK, Europe, with a particular focus on Spain and France, and the US simultaneously.