First Table has raised NZ$12m (£5.5m) in a late-stage venture round to fund its market expansion across the UK and Ireland.
The syndicate was co-led by institutional venture capital firms K1W1 and Icehouse Ventures, alongside follow-on capital from existing funds Altered Capital, Invest South and Mainland Angels. The round also included retail investment through the equity crowdfunding platform Snowball Effect.
The company has not disclosed its valuation, annual recurring revenue or underlying gross margins.
The capital will fund market expansion in London and 22 regional cities across the UK and Ireland, alongside tech development and brand awareness in core markets across Australia and New Zealand.
The business operates a B2B2C marketplace model, charging no listing fees to venue partners while monetising via flat booking fees paid directly by consumers. The operational footprint covers 65 cities and 5,000 venue partners globally.
The UK has become the company’s primary growth market, with booking volume increasing by more than 150% year-on-year, according to internal data. London is currently the platform’s busiest market globally.
Alex Cappy, chief executive of First Table, said: “The First Table model travels. 50% off your food bill is appealing no matter where in the world you are. We’ve been seeing phenomenal growth across the UK and Ireland, so we know there’s a huge opportunity to take the business further here and Europe more broadly is of particular interest to us.”
“A big part of this raise is about going deeper in the markets where we’re seeing the strongest momentum, and the UK and Ireland are leading that charge. That means bringing more value to our restaurant partners and diners, and creating more opportunities for the hospitality industry to thrive.”
He added: “People are being cautious with how they spend their money right now, but we know they still want to go out and connect over a meal, and the benefit that we offer at First Table is really appealing. Equally, it has been a tough time for hospitality, and First Table gives restaurants another way to get diners through the door and build a buzz during usually quiet times.”
