Restaurant Payment App Gets $5.5 Million in Funding
The Cover app, which allows you to eat and run and then pay by a smartphone app, recently raised $5.5 million for its development. The company managed to raise a Series A round led by Spark Capital.
Cover works a lot like the Square and PayPal mobile payment apps. Just tell the waiter you’re using Cover to pay your bill and leave when you are finished. You don’t have to wait for the check or hand your credit card to a waiter and have it leave your sight.
At this time, Cover can only be used in 80 New York City locations and 19 in the Bay Area. But these all fit the lifestyles of the young, tech-savvy spenders that are likely to gravitate to this app.
The Cover app is available for download now, but the designers plan to completely transform it for a new launch. They should have plenty of chances to do that, now that they have $5.5 million to spend on their efforts.