Settle plans release in SF this month

Long wait times for getting seated to ordering food might soon be a thing of past with Ukrainian startup Settle planning to rollout its app based business in San Francisco this month.

The app rolls table booking, food pre-ordering and billing into one experience. Once downloaded, the app can be used to connect to customer’s bank account, pre-order from the menu and pay for their meals for dining in and take out.

“Our main focus is on mobile pre-orders and [the] dine-in option at restaurant,” Settle’s spokesperson said.

Participating restaurants get a tablet with the merchant app that displays customer’s billing information, table reservation among other information. For facilitating, Settle takes a 10 percent cut on each bill processed through its system.

For its release in the US, Settle has partnered with Stripe, which provides a payment solution that doesn’t require the app to store banking details, said a Settle spokesperson, according to VentureBeat.

In Eastern Europe, Settle has partnered with several major banks to facilitate payments. The company raised about $1.5 million in a funding round last August through Moscow based venture capital firm Life.SREDA and is running business in Kiev, Ukraine and Moscow, Russia.

With its release in San Francisco, the company would face competition from companies like Cover, LevelUp, Resy, Reserve and TabbedOut, which are working on similar business models. Among its competitors, Cover and Reserve are already providing a comprehensive in-app payments solution.

Stas Matviyenko and Anna Polishchuk founded the Kiev based company in 2014.