Investments

Tiller Raises $13.9M To Improve Digital Cash Register

French startup Tiller has raised $13.9 million (€12 million) in a Series B round, which will be used to further develop its digital cash register, as well as to expand into other locations.

According to reports, the round was led by Ring Capital, with Omnes Capital and existing investor 360 Capital Partners also participating.

The company has been working on a digital cash register for restaurants that works with an iPad and connects with multiple payment solutions.

At first sight, Tiller's app seems pretty common: Restaurant managers will be able to customize the menu and layout of the space to easily enter an order. Once the bill shows up, customers can pay using multiple payment methods, as well as keep track of what’s left to pay if they're splitting the check with others.

But Tiller's app is unique in that it can be configured and integrated with a variety of third-party services. Eateries can receive orders from Uber Eats or Lunchr, while bookings can be managed from TheFork and others.

For payment options, Tiller can be paired with a Sumup or Ingenico card reader to accept different cards and contactless payments, as well as Lydia, Lyf Pay and other mobile payment apps. Tiller will also attempt to automate a restaurant's accounting reports, and managers can even receive reports and revenue tracking based on the time of day or product category.

Waitstaff with iPhones or iPads can also use Tiller to capture orders.

Currently, most of Tiller’s 5,000 clients are based in France and Spain. The startup plans to use this most recent funding round to expand into additional European countries.

And this round could be just the beginning: Tiller still has the option to raise an additional $9.3 million (€8 million) to finance acquisitions, which would enable it to break into new markets.

——————————

NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

TRENDING RIGHT NOW