Bar tab app, Dash, has raised USD700,000 in funding from New York Angels, Caerus Ventures and Brooklyn Incubator. Dash allows users to enter their card details and connect with any bar’s Dash system allowing them to keep a tab. The app also features a bill splitting function and location ratings.
The app may eventually offer rewards for frequent use in certain places in a bid to boost engagement. Going live on the app store in August, Dash will initially be available in 50 New York bars and restaurants before eventually rolling out to San Francisco, Los Angeles, Las Vegas, Chicago, Austin and Miami. The company also says it will release an Android version by the end of the year.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.