19 August 2017
Find out more

Viableware raises $6.5 million in series B financing

23 July 2013  |  1515 views  |  0 Source: Viableware

Viableware, innovators of the RAIL payment platform for full-service restaurants, today announced that it has closed $6.5 million in Series B funding. The round was led by a syndicate of prominent angel investors and included participation from Swiftsure Capital LLC in Seattle. The Series B financing brings Viableware's total funding to $7.45 million.

"This funding will be instrumental in bringing the RAIL to market on a national scale," said Joe Snell, CEO of Viableware. "While we've successfully implemented the digital bill folders at a number of well-known restaurants, such as P.F. Chang's, Dickie Brennan's, and Ethan Stowell Restaurants, this financing will allow us to address the entire full-service restaurant industry from coast-to-coast by significantly ramping up our sales and engineering resources."

The RAIL payment platform functions as a patented handheld device designed to replicate the look and feel of the standard leather folder that is used to present the bill at most full-service restaurants. However, the RAIL can automatically split the bill, calculate the tip, and email a receipt at the touch of a finger. Most importantly, it allows the guest to self-swipe their own card and retain possession of it throughout the entire transaction, mitigating any chance of card information theft.

Viableware has successfully integrated the RAIL system with industry leading POS systems – including MICROS, NCR Aloha, and Dinerware – to securely accept payments at the table. In recent months, Viableware announced that a number of establishments, operated by some of the nation's finest restaurant organizations, have piloted the RAIL payment platform – in addition to major credit card brands and other financial services. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8391 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7562 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6671 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6230 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6093 views comments | 11 tweets | 9 linkedin

Featured job

London, UK (or flexible)

Find your next job