E la Carte, a Redwood City, CA-based smart dining company, received $15m credit facility.
Bridge Bank and Trinity Capital Investment provided the debt financing.
The company is using the new financing to refinance its existing debt structure and reduce its debt service costs as well as provide additional working capital to complement their equity investment of $28m received in the past from venture capital firms Intel Capital and Romulus Capital.
Led by Rajat Suri, Founder and CEO, E la Carte develops the Presto Smart Dining System, a guest-facing, pay-at-the-table, e-commerce system installed in over 1,800 restaurants across the nation.
The solution includes a proprietary Intel-powered wireless tablet that integrates directly with a restaurant’s point of sale system to process orders and transactions. Guests can place their order, play exciting interactive games, split the tab and pay their bill right from their table without having to wait for a service person.