Fintech Startup Sunday Launches Restaurant Payment Platform With $24 Million Seed

By James White Sunday, April 25, 2021

Digital payment solutions offer users a number of ways to pay for just about anything. From buying groceries and goods from ecommerce marketplaces to paying for drinks at the bar with an app, advancements in the mobile and digital payment business allows consumers to conveniently pay the way they want. Consumers can even make a purchase using their smartwatch if they choose to. Startup fintech company Sunday recently launched its restaurant payment app with support from a $24 million seed round as its business attempts to make picking up the check easier.

"It's simple – we provide a much better experience for a lower cost,” said Christine de Wendel, co-founder and CEO of Sunday in the US. “For the customer, it's fast, convenient and seamless and for the restaurant owner and his or her staff, it's easier and profitable. As a customer, it allows you to skip the waiting game, giving you the option to pay whenever you're ready.”

Financing for the fintech startup and its digital payment app was driven by lead investor Coatue, with participation from New Wave and other “investors from the tech and hospitality world.” Sunday claims that its company is working with over 1,300 restaurants across Europe. The fintech business is working to enhance the dining experience at both casual and high-end restaurants.

Sunday offers the next generation of brick-and-mortar payment while creating post-pandemic operational efficiencies as eateries recover.

No More Waiting for the Bill

Founded by de Wendel and entrepreneurs Tigrane Seydoux and Victor Lugger of Big Mamma Group Restaurants, the fintech company developed a digital payment app that allows consumers to pay for their meal whenever they are ready, without waiting for an available staff member to ring them up.

A restaurant working with Sunday simply sets out QR codes for tables in the business. Guests can then use the app built by the fintech startup to scan the code, which brings them to a convenient interface sporting the menu for the venue in addition to the bill for the table.

When the customers are finished, they select the pay option on the Sunday app, which includes integrated tools for splitting the bill as well as tipping the staff. According to the digital payment startup company, after using the app for a year in Big Mamma Restaurants, servers received 40% more in tips while customers and staff saved around 15 minutes at each table.

"The sunday offering will use technology to make the dining experience more efficient and safer for the consumer and the restaurant staff," said Michael Gilroy of Coatue. "We are excited to be supporting this proven team of entrepreneurs as they scale their business around the world."

Disrupting Digital Payment in Physical Retail

While digital payment solutions often focus on the ecommerce space, Sunday intends to revolutionize digital payment methods for physical retailers, starting with restaurants. Market research expects the global digital payment market to reach $236.10 billion by 2028. The startup fintech company may find competition from others, including mobile payments business Dash, which allows users to manage their restaurant or bar tabs from their smartphones.

About the Author

Headshot of James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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