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Just Eat backs payments app Flypay with £3.5m cash injection

Written by Eric Johansson on Wednesday, 12 October 2016. Posted in Funding, Finance

The food delivery startup has raised money for the new app developer

Just Eat backs payments app Flypay with £3.5m cash injection

It’s certainly been a few busy old months for Just Eat, the food delivery startup. The company recently bought its competitor Takeaway.com’s UK operations and has taken steps to expand its reach by investing £3.5m in Flypay, the payments app that’s got investors excited.

Flypay, which raised £7m in its series A funding round last year, promises to make ordering, paying, and splitting bills easier for hungry restaurant-goers who don’t want a faff when it comes to paying up. Just Eat has also joined the platform. Commenting on its latest vote of confidence, Tom Weaver, the company’s CEO, said: “This investment, coupled with a strategic partnership with Just Eat, will allow us to rapidly advance our solutions for both operators and suppliers around the world – changing the customer’s digital journey as we know it.”

And it seems Just Eat may need that edge as the food-delivery market becomes increasingly competitive. Not only has Uber launched its own service, UberEats, but Deliveroo recently closed a £275m founding round and launched a new pop-up kitchen concept.

Could Just Eat’s claim that it’s the “world's leading marketplace for online food delivery” be under threat? One thing’s for sure, you can’t fault the company for putting its money where its mouth is. 

About the Author

Eric Johansson

As feature writer and resident Viking, Eric ensures EB is filled with engaging and eclectic entrepreneurial stories. While one of our freshest faces, he has sharpened his editorial teeth by writing about business, entertainment and fitness.

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