British mobile payments app Flypay raises £1 million in funding

Early-stage mobile payments app Flypay has announced it has closed £1m from venture capital firm Entreé Capital to support its roll out across the UK. London-based Flypay is a free-to-use app which claims to end the “10 minute restaurant bill chase” by making it easier and quicker to pay for a bill at the end of a meal. Users are able to view their bill by scanning a unique on-table QR code and if wishing to split the bill, can use their smartphone to check, split and pay the amount in less than a minute.

Never mind poor service or the food itself, the experience of actually paying the bill at the end of a meal is often cited as the biggest pain-point for restaurant goes. Or so says Flypay, a new UK startup whose app wants to make settling the bill “waiter-free” and a lot speedier in the process. Co-inciding with its official launch today, the company is announcing that it’s raised £1 million in new funding from mobile payment specialists Entreé Capital, adding to a £150,000 seed round from unnamed industry folk raised six months earlier. The new capital will be used to scale its technology, picking up new restaurant partners along the way, and to further develop its product line.