Payment solution Sunday secures an additional $100m

By Joe Lutrario contact

- Last updated on GMT

Restaurant payment solution Sunday secures an additional $100m

Related tags: Sunday, Victor Lugger, Tigrane Seydoux, Big Mamma Group, Payments

Victor Lugger and Tigrane Seydoux’s Sunday has secured $100 million in its latest funding round, making it one of the sector’s most heavily backed payment solutions.

Officially launched earlier this year, Sunday currently has over one million ‘users’ and onboarded 1,500 restaurants and hired 170 members of staff across US, UK, Spain, France and Canada in the five months since its launch. 

Lugger and Seydoux - who operate Big Mamma Group​ - say Sunday has been designed to simplify the payment process for diners by creating a system that enables customers to pay the bill in under 10 seconds. 

Raised from The Series A equity financing will be used to accelerate the growth and expansion of Sunday within ‘a highly promising, $1.2 billion addressable market’.

Earlier this year, Lugger told BigHospitality that he wanted Sunday to be “like PayPal for bricks and mortar”. 

The currently browser-based system was trialled within Lugger’s own Paris-founded restaurant group - which operates Gloria and Circolo Popolare in London. 

UK venues using Sunday include Corbin & King and Gymkhana and Hoppers-owner JKS Restaurants. 

“This is the fastest way to pay in restaurants in the world, and it’s also the simplest and cheapest. We’re being robbed by banks,” he says.

“Most restaurants eventually end up paying more than 1% through fixed costs, such as renting card machines, and variable costs. Payments in bricks and mortar is something that has not been challenged for 40 years.”

Related topics: Business & Legislation

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