Money for Toast
Emailed on February 21st 2020 in The Friday Forward
Toast, Boston-based maker of payment processing hardware and software for restaurants, has raised $400 million in Series F funding at a post-money valuation of $4.9 billion led by Bessemer Venture Partners.
Toast plans to use the funding to build out its restaurant management platform with new products, investments in hardware and software capabilities and new financial products to help restaurant owners grow their businesses. That’s in line with some of the company’s recent moves: In November, the company launched Toast Capital, a subsidiary that gives restaurants access to capital for expansion, and in January last year, it debuted the Toast TakeOut app, allowing customers to place orders for pickup.