First Table secures $12 million NZD for UK and Ireland expansion

First Table has raised $12 million NZD to fund its expansion, with the UK and Ireland as the primary focus. The restaurant booking platform offers diners 50 percent off their food bill for dining at off-peak times, helping venues fill otherwise empty tables.

The funding round included backing from existing investors Altered Capital, Invest South, Mainland Angels, and Snowball Effect shareholders. New investors K1W1 and Icehouse Ventures also participated.

Growth in the UK and Ireland

The UK has become First Table's standout market. Bookings there have grown over 150 percent year on year, and London is now the company's busiest city globally.

Since entering the market, First Table has launched in 22 cities across the UK and Ireland. More than 10 of these city launches occurred in the past year alone. The platform has built a network of over 2,000 restaurant partners across the two countries.

CEO Alex Cappy stated the model's broad appeal. "The First Table model travels. 50% off your food bill is appealing no matter where in the world you are," he said.

Strategic use of new capital

A significant portion of the new capital will be used to deepen First Table's presence in the UK and Ireland. The company plans to strengthen relationships with restaurant partners and create more ways for diners and venues to use the platform.

The funds will also support growing awareness in other core markets, including New Zealand, where the company was founded in 2014.

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, Cappy said. He added that the focus is on bringing more value to partners and diners while creating opportunities for the hospitality industry.

The platform's unique model

First Table operates differently from most booking platforms. It charges restaurants nothing to list. Diners pay a small booking fee to secure their discounted meal.

Cappy explained the core value proposition for restaurants. "An empty table at 5.30pm is revenue a restaurant never gets back," he said. "We help to turn those empty seats into paying customers, and the diner gets a meal they might not have booked otherwise. Everyone wins.

Market traction amid economic pressure

The company reports strong demand in the UK and Ireland despite economic challenges. Bookings have tripled in the region over the past two years, even with a prolonged squeeze on consumer spending.

Cappy noted that people are being cautious with spending but still want to dine out. He said the platform's offer remains highly appealing. He also highlighted the benefit for the hospitality sector during a difficult period, stating that First Table gives restaurants another way to attract customers during typically quiet times.

First Table has now seated more than five million diners globally since its 2014 launch in Queenstown, New Zealand. The company currently operates in over 65 cities across New Zealand, Australia, the UK, and Ireland. It connects over 3.9 million diners with more than 5,000 restaurants worldwide, with the UK and Ireland confirmed as its fastest-growing region.