About PayWithCover
PayWithCover is a company based in New York (United States) founded in 2012 was acquired by Velocity Black in September 2015.. PayWithCover has raised $7 million across 2 funding rounds from investors including Velocity Black, Lerer Hippeau and Spark Capital. PayWithCover operates in a competitive market with competitors including TabbedOut, paerpay, MyCheck, SpeedETab and Mogl, among others.
- Headquarter New York, United States
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Cover, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7 M (USD)
in 2 rounds
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Latest Funding Round
$5.5 M (USD), Series A
Jul 10, 2014
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Investors
Velocity Black
& 4 more
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Employee Count
Employee Count
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Acquired by
Velocity Black
(Sep 22, 2015)
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Funding Insights of PayWithCover
PayWithCover has successfully raised a total of $7M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $5.5 million completed in July 2014. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $5.5M
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First Round
First Round
(18 Apr 2013)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2014 | Amount | Series A - PayWithCover | Valuation |
investors |
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| Apr, 2013 | Amount | Seed - PayWithCover | Valuation | Lerer Hippeau , Red Swan Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PayWithCover
PayWithCover has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include Velocity Black, Lerer Hippeau and Spark Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Spark Capital is engaged in venture capital investments.
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Founded Year | Domain | Location | |
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US focused VC firm
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Founded Year | Domain | Location | |
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USA focused VC firm investing in seed and early stage startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PayWithCover
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - PayWithCover
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Paywithcover Comparisons
Competitors of PayWithCover
PayWithCover operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as TabbedOut, paerpay, MyCheck, SpeedETab and Mogl, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Mobile payments and marketing for hospitality venues are facilitated.
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| domain | founded_year | HQ Location |
App-based platform for dining payments
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| domain | founded_year | HQ Location |
Provider of digital solutions for the hospitality industry
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| domain | founded_year | HQ Location |
Mobile ordering at restaurants & bars
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| domain | founded_year | HQ Location |
Card-linked cashback rewards are offered for restaurant and bar spending.
|
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| domain | founded_year | HQ Location |
Provider of restaurant technology solutions for streamlined operations and enhanced guest experiences
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about PayWithCover
When was PayWithCover founded?
PayWithCover was founded in 2012 and raised its 1st funding round 1 year after it was founded.
Where is PayWithCover located?
PayWithCover is headquartered in New York, United States. It is registered at New York, New York, United States.
Is PayWithCover a funded company?
PayWithCover is a funded company, having raised a total of $7M across 2 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Apr 18, 2013.
What does PayWithCover do?
iOS and Android app that lets users pay their bills at supported restaurants in New York City and Bay Area. Launched publicly in Oct 2013. Diners can pay the bill using their payment cards, including preferred tip settings and also allows groups to split the bill evenly between guests. Cover makes its money on the back end, reducing the credit card rates that restaurants pay for transactions, in exchange for a small service fee. Works with 45 NYC and 15 Bay area restaurants.
Who are the top competitors of PayWithCover?
Who are PayWithCover's investors?
PayWithCover has 5 investors. Key investors include Velocity Black, Lerer Hippeau, Spark Capital, O'Reilly AlphaTech Ventures, and Red Swan Ventures.
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