Blackbird gobbles up $50M for its blockchain-based payment-loyalty app for restaurants

A founder who made a name for himself to help restaurants, won $ 50 million in the latest in the last start with the best of connection with his wishes: the customer gained something new to the idea of ​​loyalty.

Blackbird Laboratories By reducing some frictions around the operations, the restaurant set up a payment-Loytaly-Stockchain platform for repetition of restaurants for the increase. Now with 1,000 restaurant contract, Ben Leventhal, Blackbird plans to use money to start the “Points” service, Also New York (ITEBASE), San Francisco and Charleston, South Carolina plans to use money to get more markets outside South Carolina.

(Charleston, you ask of you? “Charleston punches above the class,” said Leventhal, a great restaurant for his size. “We also call Meta a good test market for us.”

Spark capital, this latest round, this is the last round, both guides the last round, but also from Coinbase Ventures, Amex Enterprises and Andreessen Horowitz, three investors supporting Blackbird 24 million dollar series in 2023. The evaluation is not disclosed, but for a reference point, Pitchbook Notes The beginning was estimated at about $ 124 million in the last round. Earned $ 85 million in the beginning.

Coinbase and Amex are strategic names in this list.

Amex, Leventhal’s previously established booking platform, In 2019. Two companies – Rescue and Blackbird – Now it is not integrated, but “It is fair to say we will” say Leventhal. Previous flight, third restaurant-oriented starting starting start Leventhal, eating food blogs at the same time: now The part of the vox. There is no plan on how and how to reveal there.

Meanwhile, Blackbird describes Flynet Payment Service as a coat-three operating protocol established in Sikbase Base. Religions can be used to pay for meals on the table through the Blackbird application, as well as use the restaurant to return loyalty points.

Is Blockchain worth asking if the mixture is a necessary part of the mix? There are many loyalty and payment programs in the market – a knot, toast, light, etc. A number that is directly rival as a blackbird is built in more conventional financial structures.

“I don’t think it must be set up on the blockhain ‘” said Leventhal. “The network has been created using the same principles we use for the network, more or less, Flynet and explicitly they did not have blockchain.”

However, he has a few things that we believe in the possibility of “I will be able to have important opportunities, and these opportunities will be based on being in the chain.” They said blackbirds and restaurants have held customer profiles and activities. “Consumers will be able to continue to have this profile.” Blackbird said he was working with restaurants, said: Every restaurant will eventually be a blackbirdin shareholder.

You can think that Leventhal’s business is not filled with two startings on the consumer party on the consumer. When leaving, it is still more hungry.

Restaurant with restaurants have long been a difficult enterprise, but the economy and variable consumption habits have lost a large number of restaurants in the last few years.

Leventhal, the figures of the National Restaurant Union, which are the average profitability of restaurants in these days Lower than 5%compared to an average of 20% in the early routes.

Platforms such as Instagram and Tiktok turn the world into chair populations, the latest and best cafes are developed in the latest and in the best cafe, which are rapidly reduced and a period of price sensitivity. These are really the areas that really are locked on the latest tariff walks in the United States.

“In the restaurant industry, popularity and restaurants have a connection in the restaurant industry between the intensity of consumer love, and as a result, the profitability of the industry,” he said.

Of course, there is an opportunity to leave the beginning of the beginning.

“The restaurant industry consists of millions of local, small business owners. These restaurants, the percentage of a restaurant margin,” Arianna Simpson said that the general partner of the Simpson.

It believes that this is a special structure that the blockbox can play the role: the improvement of the margin structure. “Benin Vision is something that is only something that is just an obstacle to a network belonging to restaurants and cantels.” Today, Blackbird now saves 3-4% of the restaurant customers in payment processing fees.