This Series A round brings Sunday's total funding to $124M. Here are the top-line bullets you need to know.
Sunday, a restaurant payment app, has raised $100M in a Series A that drew participation from DST Global and Coatue Management, among others.
How’s the company performing?
- France-based Sunday provides a virtual checkout system for restaurants that allows customers to browse the menu as well as view and pay the bill by scanning QR codes on tables.
- Since its launch, the company’s platform has catered to 1.1M end users and helped them pay restaurant bills. Customers can make payments via Google Pay, Apple Pay, Mastercard, Visa, and American Express.
- The startup currently caters to 1500 restaurants globally, including Bastille, Alice NYC, Sofreh, Osteria 57, Red Beard Restaurants, and Buckhead Life.
- Sunday has a team of approximately 170 employees across the US, the UK, Canada, France, and Spain.
Why does the market matter?
- The global digital payment market is projected to grow at a CAGR of 19.4% and reach a value of $236.1B by 2028, according to Grand View Research.
- The rise in e-commerce sales has led to an increase in digital transactions, boosting market growth. Moreover, increased investment by banks to enhance digital payment infrastructures and compete with major players like Google, Amazon, and Facebook has further contributed to this expansion.
- eWallets are witnessing increased “peer-to-peer” and “customer-to-business” payments due to the pandemic, and this trend is expected to continue.