TimeOut, the media conglomerate that owns a series of publications covering leisure and life in major cities around the world, recently led a $10.7 million series A investment in Flypay, a startup based in the United Kingdom.
As TechCrunch noted in an article yesterday (July 16), Flypay debuted last year via a “pay-at-the-table” app and has since expanded into other areas — ranging from ordering apps to customer loyalty. The startup will continue to focus on helping eateries improve and speed up customer service.
According to TechCrunch, Flypay’s core services use an “on-table” code or NFC tag to register and “recall” a patron’s bill. Then, the patron uses an app to pay via card (debit or credit), and the experience can be tailored to split a bill, equally or line item by line item.
The company has said its platforms is available across 100 restaurants and bars throughout the U.K, including outlets such as Cabana, Gourmet Burger Kitchen and Burrito Mama. There will also be expansion across other establishments such as Chilango and Fullers pubs.
In a statement released by Flypay in tandem with the TimeOut investment, Flypay CEO Tom Weaver said that players 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 TimeOut, will allow us to rapidly deploy our solution for both operators and users around the world.”
TechCrunch said the recent link-up with Flypay will help TimeOut run the “full gamut of hyper-local event and hospitality discovery and booking for its monthly combined audience of over 36 million, spanning 107 cities across 38 countries. That strategy also includes becoming a mobile commerce platform in its own right so that it plays a role at the point at which you pay.”