Blackbird
Blackbird is a New York-based Web3 hospitality technology platform that combines blockchain-based payment processing at a 2% fee, cross-restaurant loyalty programs, and diner data analytics for independent restaurants, built on its proprietary Flynet L3 blockchain on Coinbase's Base L2.
- Company typePrivate
- Founded2022
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Blackbird does
Blackbird is a New York-based Web3 hospitality technology company founded in 2022 by Ben Leventhal (co-founder of Resy and Eater) that builds blockchain-based payment and loyalty infrastructure for independent restaurants. The company targets the structural margin pressure facing independents — average restaurant margins have fallen below 5% from roughly 20% in the early 2000s — and the inability of non-chain operators to field the data-driven loyalty programs that large brands use to retain guests.
The platform is anchored by a proprietary layer-3 blockchain called Flynet, launched on mainnet in February 2025 on Coinbase's Base L2. Flynet underwrites Blackbird Pay, a settlement product that charges restaurants a flat 2% transaction fee (versus an industry standard of 3-5%) and lets diners settle checks on-chain using the native $FLY cryptocurrency, with NFC-enabled check-ins for engagement. The Blackbird Club tiered loyalty program, launched in April 2025 alongside the Series B, replaces fragmented punch-card schemes with cross-restaurant programmable rewards, dynamic value exchange, and VIP access. A secondary $F2 token grants restaurants and diners ownership stakes in the network, creating alignment between the two sides of the marketplace. Behavioral data is captured into Guest Value Scores for targeted marketing.
Blackbird's revenue model is primarily a 2% transactional take rate on payment volume flowing through Blackbird Pay, with the platform free for diners. As of mid-2026, approximately 2,500 independent restaurant locations across New York, San Francisco, and Charleston have signed on, with platform spending reported to have grown 1,000% in 2025. The company has raised roughly $85M in total funding across a 2022 seed, a 2023 Series A led by Andreessen Horowitz ($35M post-money valuation), and a $50M Series B (closed late 2024, disclosed April 2025) led by Spark Capital with Coinbase Ventures, a16z crypto, USV, and Amex Ventures participating. The Series B included token warrants tied to a future Blackbird-issued cryptocurrency, introducing a token-denominated economic dimension to the cap table.
Blackbird firmographics
Firmographics- Name
- Blackbird
- Legal name
- Blackbird
- Website
- https://blackbird.xyz
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Blackbird is a New York-based Web3 hospitality technology platform that combines blockchain-based payment processing at a 2% fee, cross-restaurant loyalty programs, and diner data analytics for independent restaurants, built on its proprietary Flynet L3 blockchain on Coinbase's Base L2.
- Ownership category
- akta.pro rank
Blackbird industry classification
Industry- Product category
- Restaurant Payment & Loyalty Platform
- akta.pro primary industry
- Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE)
Keywords
Where Blackbird is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Blackbird business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Payment Processing Fees (Blackbird Pay): Blackbird charges restaurants a flat 2% transaction fee for payments processed through its Blackbird Pay system, compared to the industry standard of 3-4% (and as high as 3.5-4%). This is the primary revenue stream and directly addresses restaurant profitability challenges given average margins now under 5%, down from 20% in the early 2000s. The fee covers payment processing, loyalty integration, and diner data collection.
- Token Warrants (Series B Funding): The $50M Series B funding round includes warrants for an unreleased cryptocurrency, suggesting a future token issuance component to the revenue model. The company's Flynet blockchain and $FLY/$F2 token ecosystem create potential for token-denominated economics across the restaurant network.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Blackbird Pay — Flat 2% Transaction Fee for Restaurants |
Go-to-market motion3 records
Distribution channels2 records
Marketing channels4 records
Blackbird product offering
Product offeringCore offering
Blackbird is a Web3 hospitality technology platform that combines blockchain-based restaurant payment processing, cross-restaurant tiered loyalty programs, and diner data analytics into a single integrated solution. It charges independent restaurants a flat 2% transaction fee (versus the industry standard of 3-5%) through Blackbird Pay, delivers a Blackbird Club loyalty program replacing punch cards with programmable rewards, and runs the Flynet layer-3 blockchain on Coinbase's Base L2, issuing native $FLY and $F2 tokens to align incentives across restaurants and diners.
Product overview
Blackbird is a Web3 restaurant loyalty and payment platform built on Coinbase's Base blockchain, combining multiple interconnected products: Blackbird Pay (blockchain-based payment processing at 2% fees), Blackbird Club (tiered loyalty program with programmable rewards), and the Flynet layer-3 blockchain network. The platform uses dual-token economics ($FLY for customer rewards, $F2 for network ownership stakes) to enable restaurants to reduce payment processing costs, collect diner data for targeted marketing, and create cross-restaurant loyalty programs. The system integrates NFC check-in technology and 'Guest Value Scores' to enhance guest engagement and provide restaurants with customer analytics.
Differentiator
Problem solved
Functional benefit
Brands
- Blackbird Club: A tiered loyalty program launched alongside the Series B funding announcement, offering programmable rewards and benefits for restaurant customers.
- Blackbird Pay
- Flynet
Products and services
- Blackbird Pay A blockchain-based restaurant payment processing system built on Coinbase's Base L2 that allows diners to settle checks on-chain using the native FLY cryptocurrency token or linked payment methods. Restaurants are charged a flat 2% transaction fee, materially lower than the 3-5% industry average. The product integrates NFC check-in, automatic bill settlement, and loyalty rewards issuance, and is targeted at independent restaurant operators seeking to lower payment processing costs and access diner data.
- Blackbird Club A cross-restaurant tiered loyalty program that enables independent restaurants to create programmable rewards, dynamic value exchange, demand shaping, and VIP access benefits across a network of participating venues. It replaces traditional blunt loyalty tools like punch cards with network-wide programmable loyalty tied to the Flynet blockchain and $FLY/$F2 token economy, targeted at independent restaurant operators and the diners who frequent them.
- Flynet Mainnet Blackbird's proprietary layer-3 blockchain network launched on Coinbase's Base L2, providing decentralized, low-cost infrastructure for restaurant payments and loyalty. It enables on-chain settlement of restaurant transactions, issuance of $FLY loyalty tokens and $F2 network ownership tokens, and serves as the underlying ledger for Blackbird Pay and Blackbird Club, designed for restaurants and diners participating in the network.
- Blackbird App The consumer-facing mobile application that allows diners to discover partner restaurants, check in via NFC, earn $FLY tokens for check-ins and dining activity, redeem loyalty rewards, and pay using Blackbird Pay at participating venues. It is free for diners to use and is targeted at consumers who frequent independent restaurants in Blackbird's markets.
Quantifiable outcome
- Saves restaurants 1-2% per transaction (2% flat fee vs 3-5% industry average)
- +3 more outcomes
Companies that use Blackbird
Customer profileNamed customers3 records
Segments1 record
Ideal customer profiles1 record
Blackbird technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Blackbird partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor and core.
- NomaminorBlackbird was a sponsor of Noma's Los Angeles pop-up residency, having purchased approximately $100,000 worth of tickets. Following abuse allegations against chef René Redzepi, Blackbird withdrew its sponsorship, with proceeds refunded or donated to hospitality worker organizations.
- Coinbase (Base L2 Blockchain)coreBlackbird's Flynet mainnet runs on Coinbase's Base L2 blockchain. This is a strategic technology partnership where Coinbase's infrastructure enables Blackbird's decentralized payment and loyalty ecosystem. The relationship combines financial backing from Coinbase Ventures with deep technical integration.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Blackbird competitors and assessment
Company assessmentBroad incumbents
- Stripe: Stripe is a global payments infrastructure provider whose restaurant and platform partners compete with Blackbird Pay on payment processing economics and developer-grade tooling.
- Block (Square): Block's Square offers payment processing and software tools widely used by independent restaurants. It is a broad incumbent competing with Blackbird Pay on transaction fees and POS-adjacent services.
- OpenTable: OpenTable is an established restaurant reservations, marketing, and guest-management platform. It overlaps with Blackbird on diner engagement, data, and the independent-restaurant customer base.
Direct peers
- Resy: Resy is a restaurant reservations and diner-engagement platform (acquired by American Express) co-founded by Blackbird's founder Ben Leventhal. It targets the same independent restaurant segment and diner base, making it a foundational comparable for Blackbird's hospitality playbook.
- Punchh: Punchh (now part of PAR Technology) operates a digital loyalty and engagement platform for restaurant chains and independents. It overlaps with Blackbird's loyalty and diner-data offering for restaurant operators.
- Toast: Toast is a leading restaurant POS and payments platform serving independent operators with integrated payments, loyalty, and marketing tools. It is the closest direct competitor to Blackbird's combined payments-and-loyalty thesis for independent restaurants.
- Olo: Olo is a restaurant ordering and payments SaaS provider serving enterprise and growing chains. It is comparable to Blackbird on the digital ordering, payments, and diner-data axis for restaurant operators.
- Paytronix: Paytronix provides loyalty, gift cards, and online ordering for restaurants. It is a direct competitor to Blackbird Club on the cross-restaurant loyalty and diner-data layer.
Emerging players
- Fold: Fold is a bitcoin rewards and payments app that issues crypto incentives for spending. It is comparable to Blackbird on the consumer crypto-rewards model and merchant-side bitcoin payments infrastructure.
- Lolli: Lolli is a bitcoin rewards platform that partners with merchants to offer crypto back to consumers. It is comparable to Blackbird on the web3 loyalty and merchant-incentive mechanics, though without Blackbird's proprietary payment rail.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Blackbird social profiles
Digital presenceBlackbird financial estimates
Financial estimateRevenue estimate
Valuation estimate
Blackbird leadership team
Management profileNumber of profiles
Profiles1 record
Blackbird funding detail
Funding detailFunding overview
Funding rounds3 records
Investors22 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Blackbird M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Blackbird
What does Blackbird do?
Blackbird is a Web3 hospitality technology platform that combines blockchain-based restaurant payment processing, cross-restaurant tiered loyalty programs, and diner data analytics into a single integrated solution. It charges independent restaurants a flat 2% transaction fee (versus the industry standard of 3-5%) through Blackbird Pay, delivers a Blackbird Club loyalty program replacing punch cards with programmable rewards, and runs the Flynet layer-3 blockchain on Coinbase's Base L2, issuing native $FLY and $F2 tokens to align incentives across restaurants and diners.
Is Blackbird a public or private company?
Blackbird is a private company. It is classified as venture growth investor backed and is currently operating.
When was Blackbird founded?
Blackbird was founded in 2022. It employs 11 to 50 people.
Where is Blackbird based?
Blackbird is headquartered in New York, United States, in the North America region.
How does Blackbird make money?
Two revenue lines are on record. Payment Processing Fees (Blackbird Pay) is the primary driver. The others are token Warrants (Series B Funding).
Who are Blackbird's main competitors?
Broad incumbents on record are Stripe, Block (Square) and OpenTable. Direct peers are Resy, Punchh, Toast, Olo and Paytronix. Emerging players are Fold and Lolli.
Does Blackbird have an API?
No public API is recorded for Blackbird.
What industry is Blackbird in?
Blackbird's product category is Restaurant Payment & Loyalty Platform. Its primary akta.pro industry code is FSAPAEAE, Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll).