FinTech Magazine - May 2023 | Page 19

lost and orders are picked up accurately . A bill-splitting feature allows diners to share the cost of a meal with others at their table , while handheld units let waiters put down their pad and pen .
Toast is trusted by nearly 80,000 individual restaurants , having added another 23,000 net new locations last year . It ’ s not just for big chains ; even for small franchises , Toast can help realise productivity savings and empower staff to turn over tables more quickly .
Explaining the value that Toast brings , Comparato recently told the Entrepreneur podcast : “ Our platform enables restaurant operators to deliver great guest experiences , whether it ' s ordering off-premise through online ordering ; whether it ' s ordering takeout ; whether it ' s having a tremendous dining experience within the restaurant . We enable restaurants to deliver these fantastic experiences . We want to make sure that we ' re freeing up their time and energy to do more of what they love .”
Today , Toast is a public company , having listed on the New York Stock Exchange in September 2021 as part of a successful IPO that valued the company at US $ 20bn and made all three of its original founders billionaires .
As for Comparato , he continues to lead the business as it recruits even more restaurants into the Toast ecosystem – or Toasters , as the company calls them . His name gives some clues to his Italian heritage , and subsequently his favourite type of cuisine when he decides to eat out .
“ Italian of course ,” he says .
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