EatClub secures $18.2M Series A to fuel UK expansion

Aussie restaurant table app EatClub has picked up an $18.2 million series A, led by Co:Act, as it expands into the UK.

The app is way for restaurants to fill up empty tables by push time sensitive discounts for nearby diners to claim straight away. Venues pay for demand with a commission on bills generated, while customers score immediate deals with no upfront fees.

EatClub was founded in 2017 and backed early by famous chef Marco Pierre White. It was quickly cooking along in the first few years. Then came Covid.

CEO Pan Koutlakis said the company “took a contrarian view” to other hospitality businesses at the time and leant further in.

“While the world talked about a ‘new normal,’ we doubled down,” he said. “The board and our investors aligned on a bold move to keep building, and to use the downtime to create breakthrough tech that would future-proof the business.

“It completely reimagines what a dining incentive should look like. Restaurants get targeted demand, and diners get spontaneity without friction.”

At a time when other people were cooking sour dough, the EatClub team put a full dining payments system into the oven. Now the company is scaling nicely, nearly doubling users in 2024 alone — and it’s cracking the London market, too.

Partner with Melbourne-based Co:Act Capital, James Douglas, said he was “delighted” to have led the EatClub Series A.

“It is such an innovative Australian company, creating real value for both the hospitality industry and consumers,” Douglas said.

“At a time when restaurants need smarter tools to drive demand and diners are seeking better experiences and value, EatClub delivers on both fronts. We see enormous potential not just in Australia, but globally.”

Co:Act led the round with Gandel Invest, Marbruck, Les Szekely, and Platform Advisory jumping in.