London-based YETiCO, the provider of devices that deliver a radically better contactless payment experience for hospitality businesses such as TiPJAR, Jones Family Kitchen and Maray Restaurants, just announced the closure of its seed funding round. The company has closed £300K from a slew of eminent angel investors, which brings the total seed investment to over £500K.
Growth plans ahead
YETiCO’s investment round was backed by prominent investors including “super-angels” Simon Squibb, Skimlinks founder Alicia Navarro, Lego CTO Atul Bhardwaj, and the founders of Masabi, the transit fare-payments-as-a-service company. The proceeds of this round will fuel continued innovation in their industry-leading hardware and software, and enable investment in sales and marketing as the company continues to grow rapidly.
“There has never been a better time to be an innovator in hospitality payments – with huge demand for any tools that make life easier for customers and help reward staff. However, the Yeti team feel it’s critical that restaurants focus on using technology that enhances the dining experience, not ones that simply replicate the experience of home delivery in a restaurant environment.” said Oliver Pugh, CTO and Founder of YETiCO. “We’ve proven both TableYeti and TapYeti with global brand name customers and are excited to be scaling the company to deliver radically better payments to even more restaurants and bars.”
Eases hospitality staffing crisis
Founded by London-based entrepreneur Oliver Pugh, YETiCO is growing strongly as more restaurants and bars use its devices which generate more tips and save waiting staff time and hassle – all of which are critical in the current service sector labour squeeze. At the same time, their devices also provide a better experience for diners with simple item-by-item bill splitting without the need to resort to using calculators.
The company’s TapYeti and TableYeti devices provide a radically better contactless payment experience across a range of scenarios. TableYeti provides a pay-at-table restaurant payment device that makes paying faster, collects more data, drives higher tips and most importantly, ensures a radically better experience for guests. It is a unique system, which enables feedback, seamless bill splitting for groups, and transparent and fair card tipping in conjunction with partners TipJar. TapYeti devices provide one-tap contactless payments for donations and are also sold via TipJar as Tap to Tip™, providing the same function for service industry tips.