Ukrainian startup Settle has completed the round of funding which it initiated earlier this year to commercialize its mobile booking and payment service for restaurants in the 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.
Settle has its iOS and Android apps used in 12 restaurants in Silicon Valley, where the company has opened an office under the Allset brand.
“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.
