EazyDiner, an Indian restaurant table reservation, food discovery, and payment platform, raised Rs 40 crore from DMI Alternative Investment Fund, The Sparkle Fund. The funds will be used to expand and grow in India and the Middle East.
EazyDiner, a company founded in 2014 by Kapil Chopra, has partnered with over 12,000 restaurants in India, Dubai, and Abu Dhabi and 15 leading banks like Axis Bank, ICICI Bank, and Kotak Mahindra Bank.
“With the latest funding round, EazyDiner is well-positioned to grow exponentially and add new features to make it even more rewarding for consumers and restaurant partners to encourage eating out at great restaurants,” added Chopra.
The company claimed it has about 3 million users and powers reservations in over 700 restaurants across Dubai and Abu Dhabi. It recently launched “PayEazy,” a payment product in the Middle East. DSG Consumer Partners, Denlow Investment Trust, Saama Capital, and Beenext are the investors of EazyDiner.
ITC Hotels, Radisson Hotels JW Marriott, Four Seasons, St. Regis, Trident, Indian Accent, Olive, Mamagoto, and Barbeque Nation, are some of the hotel chains that have associated with EazyDiner.
In 2022, EazyDiner and IndusInd Bank joined in introducing a co-branded dining credit card. One benefit of the card is a free EazyDiner Prime membership, which guarantees savings of at least 25% and as much as 50% at over 2,000 restaurants. Another feature is an additional 25% discount of up to Rs 1,000 every time a customer uses PayEazy, making it possible to redeem reward points instantly.
“We are excited to partner with the EazyDiner team as they scale their business pan India and internationally. The Sparkle Fund is always on the lookout for companies that have the vision to innovate in the financial services ecosystem, and with EazyDiner, the future of eating out looks promising,” says Shivashish Chatterjee, co-founder of DMI Finance.
EazyDiner also said that its ESOP plan applies to all employees as stakeholders in the business.
“This current funding round has propelled the team, right from the CEO to the office upkeep and maintenance staff, to significant financial ownership in the business,” it said in the statement.
