Because of the epidemic, our behavior at restaurants and events has altered dramatically in the past two years, but many of us have noticed the significant benefits of being able to order and even pay using phones at the table rather than the traditional ‘credit card dance.’ Sunday, a French business that didn’t exist in 2020, has received a big chunk of money to let consumers effortlessly pay and split bills, freeing up wiring employees and improving restaurant turnover.
Other firms, such as Toast and GoodEats, have capitalized on similar tendencies.
Now, Qlub is emerging from a period of secrecy to take on a similar problem, but this time in areas other than the United States and Europe. In a round co-led by Berlin’s Cherry Ventures and Germany’s Point Nine Capital, the payment option for restaurant customers has now garnered 17 million in initial funding. Other VCs, including STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective, as well as a number of entrepreneurs-turned-angels, were also in attendance.
Qlub, like the Sunday upstart, allows consumers to instantly pay their restaurant bills by scanning a QR code with their phone. There is no need to download an app or register. Customers may divide the payment with pals and pay using Apple Pay, credit card, or instalments in the same way as BNPL does.
Restaurants profit from a greater potential table turnover increased tip opportunities for wait staff, and repeat customers who love the uncomplicated experience. According to Qlub, eateries that are easy to use get better ratings on review sites. Naturally, there is less interaction with wait staff, which is beneficial in a pandemic and for public health in general.
“Having founded many meal delivery firms, I was puzzled by how little the dine-in experience has improved by technology over the previous two decades,” said co-founder Eyad Alkassar, a former Co-Founder and Managing Director for Rocket Internet Middle East. Little has changed since the introduction of credit cards. We’ve created the payment function of the future by integrating two mega-trends fueled by the pandemic: QR codes in eateries and cashless payments.”
Arun Sharma, Eyad Alkassar, Filiberto Pavan, Gizem Bodur, Jeff Matsuda, Jianggan Li, John Mady, Mahmoud Fouz, Oscar Bedoya, and Ramy Omar make up Qlub’s founding team. Lazada, Namshi, and Snapp are just a few of the businesses that the team has established and built.
“Adapting to a self-checkout system is a no-brainer for restaurants since offline payments remain a barrier to turnover,” said Filip Dames, a founding partner at Cherry Ventures.
“Qlub is building a win-win offering for consumers who want the freedom of cashless payments and the convenience of self-checkout as well as restaurant owners who, in a post-pandemic world, are even more mindful of compressing their fixed costs and allocating staff to revenue-generating activities,” said Ricardo Sequerra Amram, partner at Point Nine.
Qlub has so far debuted in the UAE, Saudi Arabia, and India, with more international markets to come in the next weeks and months.