SUNDAY, a financial technology startup for QR code restaurant payments, launched today with a $24 million seed round and a staff of 40.
It’s an explosive launch for any startup, which typically start with little to no funding or employees in the early stages. Investors include United Kingdom seed firm New Wave and global investment firm Coatue.
SUNDAY CEO Christine de Wendel said her team wants to hit the ground running, which is why they needed such a large seed round. They’re attempting to capture the market of a pandemic dining trend before potential competitors. The startup simultaneously launched in the UK, Spain and France.
“The long-term vision is how can we disrupt all of physical retail payments, the same way that Uber changed the way you pay for taxis,” de Wendel said.
SUNDAY allows restaurant customers to pay their checks and browse menus after scanning a QR code on the table. QR codes have become popular tools for restaurant menus throughout the pandemic because of the contactless nature of the technology.
Now that people are used to scanning QR codes, de Wendel said she sees an opportunity for innovation. Not only do the codes allow for contactless payments, but it also speeds up the dining experience. Customers don’t have to flag down servers for the checks, and tables turn over faster.
“QR codes are now totally standard,” de Wendel said. “Restaurants are using them for menus, so it’s perfect timing, but we have to move fast.”
De Wendel founded the company with European restaurateurs Tigrane Seydoux and Victor Lugger of Big Mamma Group Restaurants. She moved from France back to her hometown in Atlanta in November to raise her family and grow this company.
“It’s a great city for tech resources, great for sales,” de Wendel said. “The quality of life here is great.”
De Wendel’s move represents a larger trend in the Atlanta technology ecosystem. Because of Atlanta’s growing technology reputation and its low cost of living, the city is become a more attractive place for large tech companies and budding startups.
The founding team piloted the technology at 14 Big Mamma restaurants in Europe last year. According to the six-month test, 80% of customers used the QR code, which caused tables to turn over 15 minutes faster, saving the customer time and allowing for the restaurant to do more business.
Now, the startup is working with more than 1,300 restaurants in Europe to launch the technology.
De Wendel predicts company will double in size in three months, with a team of about 40 engineers and 40 sales and operational employees.
