Payments startup Cover, which offers a mobile app that allows users to pay for meals at restaurants and even split payment among multiple diners, has raised $5.5 million in Series A funding. Investors include Spark Capital, O’Reilly AlphaTech Ventures, Lerer Ventures and Angel investors. The New York City-based company’s platform enables the user to “create a table” at an establishment, automatically check-in with the restaurant to let them know they’re going to pay with Cover, and then it automatically pays, splits the bill if necessary, and leaves a tip.
The company was founded by Andrew Cove and Mark Egerman, and says it currently works with more than 100 restaurants across New York City and San Francisco. The team previously raised $1.5 million in Seed funding last year.