TabbedOut, a mobile payments app for bars and restaurants, announced Friday it has raised $2 million more in its Series C venture round.
Miami-based Aeterna Capital provided the funds. That increases TabbedOut’s Series C round to $23.5 million.
The other investors include lead investor Wellington Management Company and participating investors NEA and Morgan Creek Capital Management.
TabbedOut originally announced its Series C last June. The company plans to use the funds to expand to 20 planned U.S. metro areas and then launch internationally. Its app is currently being used in 10,000 bars and restaurants.
“We used TabbedOut in Miami and were absolutely floored by it,” Karl Finegan at Aeterna Capital said in a news release. “The company has produced an app that is dead simple to use, allows restaurants to turn tables much faster and removes the typical delay for diners/bar patrons in having to request to close out a tab. The company is also capable of producing extremely useful consumer analytics for bars, restaurants and beverage companies. TabbedOut has the technology and a world class team in place to dominate in the mobile payments space.”
Since its founding in 2009, TabbedOut has raised $41 million in funding.