Dining Payments Startup Dash Raised $1.2 Mn, Announces Revamped App for iOS 7

Dash is a mobile payments platform that enables users to pay the bill with their smartphone without having to wait for the check at restaurants, clubs and bars. Restaurant also gets reports, analytics and insights into customer behavior. On 27th February 2014, Dash received $1.2 Mn through investors Mike Germano, New York Angels, Caerus Ventures and founder and Jonathan Segal.

Dash was founded in January 2011. The management team includes Jeff McGregor (CEO), Robin Chou (iOS Engineer), Gennady Spirin (COO) and Stephanie Bono (Account Executive). Their mobile application was launched on 19th November 2013. This latest round brings their total funding to $1.9 Mn. The funding will be used to get more merchants on their platform, and they also plan to expand into new markets.

This video gives you an overview of their platform:

How does it work?

  • The user Checks-in at his/her favorite restaurant, bar or club.
  • The tab can be viewed in real time which can help a user regulate his spending.
  • The user can set a tip beforehand (no more drunken math required).
  • He then Presses ‘Pay’ and walks out. There is no need to fight your way to the bar to pay your bill at the end of the night!

Dash is launching a redesigned app for iOS 7:

  • The redesigned app will include a new payments flow as well as iBeacon integration.
  • The update will integrate location-aware bluetooth to automatically check in users as they walk into a restaurant or bar.
  • The iOS 7 version of the app offers bar owners and users a credit system. This allows users to pay from a credit tab and bar owners to offer credit – based on patronage and other factors.
  • The system works by integrating with existing POS systems, and enables groups of people to split up their tab with an itemized bill.

Driving adoption of mobile payments inside of restaurants and bars requires a behavior change for both merchants and consumers. There’s a delicate balance between growing both sides of the market and driving overall adoption. Dash is focusing on partnering with restaurants and bars that have strong consumer influence to help drive transactions through mobile, said Jeff McGregor.

Some of the other companies operating in this space include Tabbedout, MyCheck, Elacarte and Cover. The free Tabbedout app for iPhone and Android enables consumers to open a tab with their smart phone, see their tab in real-time and pay the tab anytime, anywhere. Users can even split the check paying just their portion directly from the app. Tabbedout says its mobile payment solution integrates directly with the merchant’s point-of-sale (POS) system without the need of additional hardware. Tabbedout also provides validated payment information when a tab is first opened.