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MyCheck startup raises $5m funding round from Santander

technology

MyCheck, a startup that enables users to pay their restaurant bill via their mobile phone, has closed a $5m Series B. The funding round is backed by Santander via its recently launched Santander Innoventures Fund. The $100m fund launched in July 2014 with a remit to invest in early-stage fintech startups, with investments ranging from $100,000-$10m, so right across the board of early-stage. As well as capital, its portfolio companies benefit from Santander's expertise and scale, with the potential to have their product marketed to the bank's 107m-plus retail and commercial customers across Europe and the Americas. Initially launched as a consumer app in 2011, MyCheck has since become more of a B2B model, providing a platform that enables mobile payments and loyalty for restaurant chains (such as Busaba and Prezzo in the UK and Blockheads and Aroma in the US) and the hospitality industry more generally.

 

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