Payment processing system for restaurants announces first close of its mezzanine offering

A first close of $100,000 was initiated by Parametric Dining on its fundraising effort started this month. 40% of the $250,000 non-brokered mezzanine offering was placed with three investors. The private placement will remain open for a year while an additional $150,000 is raised by the company. One prior placement was closed by the company raising an estimated $250,000.

The company developed and markets “CheckMate” a pay-at-table and guest management solution for the restaurant industry. CheckMate is a mobile hardware and software solution that allows patrons to select items, rate them and swipe a card to pay. The intuitive tablet allows restaurant owners to access real-time information and deep analytics to know customers and tailor loyalty offerings. The solution integrates with the point of sale (POS) system.

Other companies are in the market with related applications or solutions. Zuldi launched back in June a $1 million mezzanine offering. It developed an iOS application (app) for hospitality industry’s patrons to pay and even split their tabs using their mobile device. The payment processing system is integrated via cloud with the main global POS systems.

Geoffrey “Geoff” Johnson (President and CEO) leads the Philadelphia PA based company which was registered in 2012. Parametric Dining elected not to disclose its revenues. The executive team includes Jonathan Fiene (CTO) and Kate Savarise (COO). The board of directors includes Jason Halpern.

Offering recap:
Status: First close
Company: Parametric Dining
Industry: Other Technology
Amount offered: $250,000
Amount placed: $100,000


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