$1.5 Million Acquired by Ukrainian Restaurant-Billing Startup Settle

Recently, it was announced that Ukrainian restaurant-payment startup Settle – developed by the same team that brought us Advice Wallet – had received $1.5 million in funding via venture-capital fund Life.SREDA in order to launch its mobile payment application.

We took part in lengthy negotiations with Life.SREDA about possible investment in the project Advice Wallet, stated Settle CEO Stas Matviyenko in a press release. After discussions with the analysts and investors at the fund we came up with the idea for the mobile payments service Settle, which offers establishments a truly new way to serve their customers. Essentially it is a mobile payments service and loyalty scheme in one app. Together with Life.SREDA we plan to assist establishments with making payment quicker and more convenient.

  • Using Settle, users can both order and pay their bill at the restaurant or cafe via a smartphone.
  • The user’s bank account is linked to the app and registered through a social network, such as Facebook.
  • Thereafter, the consumer can look at the menu, divide up a bill between friends, carry out peer-to-peer transactions and receive offers from establishments, among other activities.
  • In addition, restaurants using Settle are provided with tablets and an accompanying app to view customer and billing information, as well ...
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