Sunday, the restaurant payment app started in April of 2021 that uses QR codes for seamless self-payment and faster table turning, announced a $100 million Series A financing round. This announcement follows the huge traction QR codes have gained during the pandemic to reduce labor and human contact in retail and foodservice settings.
“The way people pay in restaurants is changing for good,” Sunday said in a press release announcing the investment. “The intuition that Sunday’s founder had five months ago is testament of a global trend supporting restaurant owners, their staff and their clients. After massive success in the first months of development, this new way to pay in restaurants is now expanding to the mass market, from QSR to Michelin star.”
This latest Series A financing was led by Coatue, with participation from partners of DST Global, along with several high-profile investors from the restaurant, hospitality and technology industries.
Since its launch, Sunday has had more than 1 million customers and more than 1,500 restaurants use its platform. Moreover, the company has hired 170 employees across five countries (US, UK, Spain, France and Canada) in just five months. This Series A announcement is the company’s second round of financing since its launch; and the capital will be used to accelerate the growth and expansion of the company in what it calls “a highly promising, $7.5 trillion addressable market.”
“Digital payment solutions are enhancing the customer experience across the board,” said Philippe Laffont, founder of Coatue. “We believe that Sunday is well positioned to drive this change in the large hospitality sector as evidenced by its strong global growth in just the first five months since going to market. We look forward to supporting the team to help further accelerate their expansion.”
“This new investment round is a remarkable opportunity for Sunday to build a powerful tech stack and develop new product features such as ordering and loyalty programs. It also allows us to accelerate in the US market by growing our sales, operations and partnerships teams,” said Christine de Wendel, co-founder and CEO US at Sunday. “We are now in a very good position to hire top talent to drive the speed and stellar execution needed to succeed.”
Sunday plans to double its number of team members over the next twelve months.
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