Qlub, a startup working on a speedy restaurant pay solution, has raised $17 million for seed financing, Business Standard reported Tuesday (Feb. 1).
Qlub works to let customers pay their restaurant bills fast through scanning a QR code on their phone, even without a registration. Customers have the ability to split the bill with others or pay via Apple Pay, credit card or through installments.
The restaurants will reportedly get benefits like better table turnover, higher tips for waiters and happier and returning customers, along with better review ratings. Per the report, Qlub’s solution also helps restaurants and customers adapt to widespread situational preference from the pandemic, cutting down on in-person interactions.
“Having built multiple food delivery startups, I was baffled by how little the dine-in experience has improved by technology within the last two decades,” said co-founder Eyad Alkassar. “Since the advent of credit cards, little to nothing has changed. The choreography around waiting for the bill is so avoidable and a waste of time for both customers and restaurants.
“By combining two mega trends driven by the pandemic — QRs in restaurants and cashless payments — we are creating the payment function of the future. Our ambition is to establish Qlub as the new global standard and save restaurants and customers time and costs.”
Qlub is currently live in the United Arab Emirates, Saudi Arabia and India, and the company plans to launch in additional markets in the coming months.
The investment is being led by Cherry Ventures and Point Nine. It also has participation from STV, Raed Ventures, Heartcore, Shorooq Partners and FinTech Collective. Other strategic angels, including C-level executives of major players in digital food, have also taken part.
PYMNTS wrote recently that end-to-end payment services are allowing providers to bolster their systems, allowing for greater automation of various day-to-day restaurant-running costs.
Related: End-to-End Payment Digitization Empowers Restaurants to Take on Labor, Supply Chain Challenges
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