Velocity acquires Uncover reservations app

19 November 2015 by
Velocity acquires Uncover reservations app

Restaurant payment app firm Velocity has acquired Uncover, a mobile reservations app based in the UK.

The deal, for an undisclosed sum, sees Velocity taking on a business that has 135,000 users and an inventory at 350 of London's restaurant including Alain Ducasse restaurants, Coya, Lima, and Restaurant Story.

The three founders of Uncover, David Saenz, Christopher Steinau and Dan Ziv are expected to join Velocity in senior management positions.

It is thought that the Uncover platform will combined with Velocity into a consolidated product, set to launch in early 2016.

Velocity plans to use the new app to introduce reservations to its US locations as part of a major release. The move comes following its recent acquisitions of New York-based payment app Cover and Tab Payments.

Velocity was co-founded by Zia Yusuf, a former Goldman Sachs executive, and Alex Macdonald.

"After analysing many companies in the restaurant reservations space we are delighted to be joining forces with Uncover. Their innovative technology coupled with a loyal customer base has led to explosive growth, the fastest we have seen in the restaurant reservations space," said Macdonald.

"We are looking forward to working with their team, and continuing to build valuable products for restaurateurs that are focused on creating a seamless dining experience for their customers."

"Having a house account at a premier restaurant is fundamentally about access when you need it, elevated service, eliminating the transaction, and gratitude for your loyalty," added Yusuf.

Hospitality mobile payments group Velocity acquires US brand Cover >>How mobile payment apps will shake up hospitality >>Third of restaurant sales driven by online research, says Google >>Are you looking for a new role? See all the current restaurant vacancies available with The Caterer Jobs >>

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