Australian restaurant tech startup EatClub has announced an $18.2 million Series A funding round and a bold international expansion into the UK, completing one of the most compelling comeback stories in recent startup history.
Backed by celebrity chef Marco Pierre White and early-stage VC firm EVP, EatClub launched in 2017 with a simple mission: help restaurants fill empty tables using real-time dynamic pricing — a model likened to how airlines and hotels optimise revenue.
“When we first invested in 2019, EatClub was one of the fastest-growing businesses I’d ever seen,” said Daniel Szekely, Partner at EVP.
However, the company’s momentum came to an abrupt halt during the COVID-19 pandemic, when lockdowns drove dine-in transactions to zero overnight.
From crisis to innovation
Rather than scaling back, EatClub went on the offensive. CEO Pan Koutlakis described it as a contrarian strategy: “While the world talked about a ‘new normal,’ we doubled down. We used the downtime to build breakthrough tech that would future-proof the business.”
Out of that period came EatClub Pay, a seamless payment system that allows diners to redeem time-sensitive offers directly through the app — no vouchers, no promo codes, and no awkward conversations. Diners simply eat and pay, with discounts automatically applied in the background.
“It completely reimagines what a dining incentive should look like,” Koutlakis said. “Restaurants get targeted demand, and diners get spontaneity without friction.”
The innovation paid off. EatClub has now scaled to seven times its pre-pandemic peak, with 190% growth in 2024alone.
Testing the waters in London
EatClub’s UK launch began last month in London, one of the world’s most competitive food scenes. The app quickly climbed 40 places in the UK App Store’s Food & Drink chart, reaching 14th place, and now features more than 150 partner venues, from under-the-radar gems to local favourites.
With new restaurants joining weekly, EatClub is on track to double its London footprint by summer.
The startup’s pitch is simple and appealing: help quality restaurants generate revenue during quieter times and offer last-minute diners spontaneous, high-value experiences at lower prices.
Unlike traditional discount platforms, EatClub gives restaurants full control over timing, availability, and offers, allowing them to manage supply and demand dynamically — just as airlines manage seat pricing.
This new funding will fuel further product development, team growth, and geographic expansion, with the company eyeing additional global markets over the next 12 months.
“Our mission remains unchanged: help great restaurants thrive — even during their slowest periods — and give diners last-minute access to top-quality meals at a better price,” Koutlakis said.
With the hospitality industry still recovering from the long shadow of COVID-19, EatClub’s rise offers a powerful example of how strategic investment, product innovation, and a resilient business model can help build not just a comeback — but a category leader.
