Business Spotlight on PandaPay and co-founders, Carl, Steve and Carlos
In the lead up to tonight’s FoodTech dinner, we’re spotlighting the companies that will be joining us. Today, it’s PandaPay.
What’s the elevator pitch for your startup?
Imagine, you just had a wonderful meal with a great group of friends, the food was excellent, the service was awesome and then awkwardness… How do you split the bill?
PandaPay is a restaurant digital wallet, operating in the $235bn industry, bringing instant relief from splitting the bill.
The 2 biggest consumer problems with the dining experience are:
– waiting to pay, AND
– the awkwardness of how to split the bill.
The restaurateur’s problems? There are 2:
– slow paying consumers resulting in slow table turn
– waiters waiting for large groups to pay
The solution?
Allow consumers to pay how and when they want!
How the journey looks with PandaPay…
Consumer place their order with the waiter, as usual
Order is entered, as always.
BUT
with PandaPay, consumers just need to reach for the phone, instead of fumbling for their wallets, tap on the screen of what they’ve had from the table’s bill, and then they’re good to go…
The Result?
Happy and satisfied consumers. And, more profit for the restaurateur.
What were you doing before you launched your startup?
Carl is an experienced startup CEO – who sold one company for over $1 million and has been involved in plenty more since.
Last year, Carl was noted in TechCity UK’s Top 100 Entrepreneur’s that are defining the next generation of creative digital businesses.
Steve, has been with the British Army Intelligence Corps for almost 10 years. Skilled in Operational Intelligence, he transitioned into a startup in Silicon Valley before coming back to London to join the PandaPay team
Carlos has extensive experience in the hospital industry and was initially barman. He’s worked in 2 other startups and now I’m the Lead Developer for this project.
Where did you meet your co-founders?
Carl & Carlos met while running previous start-ups. The two Carl’s met Steve at the Lean Startup Machine, and they though he rocked, so we wanted him to work with us on PandaPay…and he accepted!
What’s your biggest ‘hindsight’ moment?
Not doing more faster.
What will 2014 bring?
2014 will bring instant relief to all those awkward moments that people have been feeling when the restaurant bill arrives after such a fabulous meal.
1 piece of advice for someone starting a business in the food space?
Know the players in the market.
Convince someone to use your product/service in under 50 words.
What if you could leave restaurant when you want. What if you could just pay for what you consumed.
Imagine if you could assist in saving the 1,600 Giant Panda’s left in the wild by just eating at a restaurant?
PandaPay allows you do this and so much more!
What’s your favourite startup in the food space (not including your own)?
Orderella & Paddle
What’s your favourite London restaurant?
Brasserie Zédel as they ran the first PandaPay trial.
Thanks PandaPay and looking forward to seeing you at tonight’s dinner.
