The startup offers gratuity management software that enables businesses to automate tip distribution directly to employees' bank accounts, eliminating delays and reducing the risk of theft. This solution streamlines cash management processes, cuts labor costs, and enhances operational efficiency by allowing instant tip payouts to the entire team.
Funding
$14.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Restaurants and other service businesses often struggle with the complexities of managing and distributing tips, leading to time-consuming manual processes, potential errors, and employee dissatisfaction. Traditional methods involving cash handling and manual calculations are prone to inaccuracies and can create security risks.
Solution
Kickfin provides a software platform that automates tip distribution, enabling businesses to send cashless tip payouts directly to employees' bank accounts in real time. The system integrates with existing point-of-sale (POS) systems to automatically calculate tip amounts for various tip pool configurations, eliminating the need for manual spreadsheets and reducing close-out times. Kickfin also offers comprehensive reporting features, providing a digital paper trail for every payout, simplifying accounting, and ensuring compliance with tip regulations. By streamlining tip management, Kickfin helps businesses reduce administrative overhead, minimize errors, and improve employee satisfaction.
Target Audience
Kickfin primarily serves full-service and quick-service restaurants, bars, breweries, nightclubs, pizza delivery services, cafes, coffee shops, stadiums, and entertainment venues.
Features
- Instant tip payouts: Funds are immediately available to employees 24/7/365.
- Automated tip calculations: Integration with POS systems for real-time data and customized tip pool policies.
- Tip tracking and reporting: Digital record of all payouts by location, shift, and employee.
- Direct integrations with industry-leading POS systems such as Toast, SkyTab, Oracle, PAR, Heartland and Square.
- Customizable tip pool configurations: Accommodates various tip sharing arrangements based on shifts, hours, points, or sales categories.
- Compliance features: Ensures adherence to tip regulations and provides necessary documentation.
- Employee mobile app: Provides employees with visibility into their earnings and payout history.