Feb. 28, 2014
Dash has raised $1.2 million in seed capital for its restaurant mobile payment platform, and has release a new iOS 7 app update, the company has announced. The current funding round brings the total seed capital raised by the New York-based startup to $1.9 million.
Pay With Dash, which launched last November in New York City, allows groups of friends to split and pay their bills at restaurants, bars and clubs via their smartphones. Users can check in at the restaurant and see their bill in real time as they place their orders.
Dash has released an iOS update for Pay with Dash containing location-aware BLE, or Bluetooth Low Energy, technology for checking in patrons as they walk into a venue.
A back-end system called DASHBoard enables restaurant and venue owners to connect with consumer apps and patron data at the POS terminal. A stored credit system records payment details when the tab is opened. Other features coming soon include gift cards and stored-value programs, Dash said on its website.
"We've managed to streamline the process and seamlessly connect the consumer-facing app with the back-end app for venue owners or managers," Jeff McGregor, Dash's co-founder, said in a statement.
Existing Dash investors including New York Angels, Caerus Ventures and Jonathan Segal, founder and CEO of the ONE Group, participated in the latest funding round, with new investment from Mike Germano, CEO of Carrot Creative, according to the announcement.
Dash is currently accepted at a number of New York restaurants including Agave, Los Feliz and Tammany Hall. The company plans to expand its partner network in New York and launch in several new cities before the end of the year, McGregor said.