Restaurant table reservation, food discovery and payment platform, EazyDiner has raised Rs 40 crore in a fresh funding round from DMI Sparkle Fund. The funding will help the company scale up its operations across new markets in India. The booking platform operates in over 30 cities currently and aims to scale up to 100 by end of the year.
Founder Kapil Chopra said that even though customers save 40-50 per cent through discounts every time they use the platform while eating out, it is their customer service that remains their biggest moat. “We have always focused on creating a sustainable ecosystem with our restaurant and banking partners, providing the best value to diners. Our philosophy at EazyDiner is centered around customer delight built on frugal innovation. EazyDiner is a journey of a service excellence led business which has been growing exponentially,” he said.
EazyDiner was founded by Chopra, along with a team of experienced restaurateurs and hoteliers to help customers discover great restaurants and bars, book guaranteed reservations within seconds, and make payments using PayEazy on the app. The platform, backed by DSG Consumer Partners, Saama Capital, Beenext, and Denlow Investment Trust, can be accessed and used at over 12,000 restaurants in India and Dubai. It has partnered with 15 banks including Axis, ICICI and Kotak Mahindra Bank.
One of the few profitable internet companies in India, EazyDiner has over 3 million users, and grew 5 times in terms of diners and over 18 times in terms of payments of restaurant bills on the app in 2022.
Some of the hotel chains and restaurants that work with EazyDiner include ITC Hotels, JW Marriott, St. Regis, Ritz Carlton, Four Seasons, Hilton Hotels, Radisson Hotels, Trident Hotels, InterContinental Hotels, Indian Accent, Olive, Mamagoto, Masala Library, Whisky Samba, Lord of the Drinks, and Barbeque Nation.
Shivashish Chatterjee, co-founder of DMI Finance said, “The Sparkle Fund is always on the lookout for companies that have a vision to innovate in the financial services ecosystem and with EazyDiner, the future of eating out looks promising.”
EazyDiner has an ESOP plan applicable across stakeholders and employees in the business. The current funding has enabled the team – from the ranks of the CEO to the maintenance staff – to a significant ownership in the business.
“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,” said Chopra.
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