Restaurant booking app Settle completes $1.5 million round, launches in US market
The company — which initially hoped to deal with US investors — raised $1.5 million in total from SMRK, a Kyiv (Kiev)-based fund, and Alexander Chernyak, a startup entrepreneur operating in the USA, Russia and Ukraine, as reported by Ukrainian tech blog AIN.UA.
“In the United States, there is a severe problem with wait-times at restaurants, as guests are waiting suffer through lengthy waits for tables and their food. Thus, local restaurants are interested in mobile pre-orders,” explained Settle founder Stas Matvienko in an exchange with the Russian media earlier this year.
In July last year, Russian fund Life.Sreda committed itself to bring $1.5 million to the Ukrainian startup. The fund, however, changed its strategy and actually provided the startup with just a fraction (15%) of the agreed amount.