Yetipay

Yetipay, operating from London, provides payment processing solutions tailored for the hospitality, retail, and service industries. The company was founded in 2017 by CEO Oliver Pugh and co-founder Tom Allin. Pugh's journey as an entrepreneur, which included an events business and a snack subscription service, provided crucial lessons that shaped Yetipay's foundation. The venture began as TableYeti, a leave-at-table payment solution, with an initial MVP built for just £5,000. A key moment in its evolution occurred in 2020 during the pandemic when the company adapted by launching "Tap To Tip," a feature designed to help the struggling hospitality sector. A successful 2022 trial with the Brewdog pub chain, which saw a significant increase in tips, led to a UK-wide rollout and demonstrated the product's market fit.

The firm targets a diverse client base, from independent small businesses to large enterprises, counting brands like Brewdog, Pho, and Zenith among its customers. Yetipay's business model is centered on a lean operational structure, allowing it to compete with larger industry players by offering favorable rates. By leveraging Adyen's payment infrastructure and adding their own proprietary technology, the company aims to provide a robust yet cost-effective service. Revenue is generated from processing transactions through its platform, which handles nearly £450 million annually. The company employs a direct sales force and establishes partnerships with Point-of-Sale (POS) providers to acquire customers.

The product suite includes modern card terminals with Wi-Fi and 4G capability, a mobile app for remote payment management, and features like Pay by Link and telephone payments. For the hospitality sector specifically, it offers functionalities such as tableside bill splitting and leave-at-table payments. A significant benefit for its clients is the provision of next-day payouts to improve cash flow. The company has successfully raised over £6 million in funding, including a recent £3.5 million round comprising both debt from fintech lender re:cap and equity from a syndicate of angel investors. Currently operating in the UK, Italy, and Spain, Yetipay has outlined plans for future expansion into the US, Australia, and New Zealand.

Keywords: payment processing, hospitality payments, retail payments, POS solutions, fintech, card terminals, Oliver Pugh, tableside payments, pay by link, SME payment solutions, transaction processing, lean startup, Adyen partner, tap to tip, next-day payouts, payment gateway, business financial tools, restaurant payment systems, Brewdog, merchant services