Today in Restaurant and Grocery Tech: Toast Leverages B2B Payments; Presto Completes SPAC Merger

Today in restaurant and grocery tech news: Olo aims to be the first pick technology provider for quick-service restaurants (QSRs), while Ahold Delhaize grows its third-party marketplace offerings. Plus, Plate IQ’s CEO Barrett Boston tells PYMNTS how automating business-to-business (B2B) payments helps restaurants navigate today’s challenging labor market.

With $160M in New Funding, Plate IQ Looks to Improve B2B Payments

For restaurants, back-office tasks have always been a chore. Assimilating invoices, getting them ingested into the general ledger and accounting systems, facilitating the payments back to suppliers — it’s all very labor-intensive. Plate IQ’s CEO Barrett Boston tells PYMNTS how accounts payable automation is helping restaurants weather these challenges.

Olo Aims to Corner the Fast-Food Chain Market

In recent months, restaurant technology providers have been looking for ways to join restaurants’ disparate needs into a single, unified solution. Even with all the advances in the space, Olo, with its ambitious goal to power all restaurant orders, contends that it is not worried about the competition.

Presto Completes $1B SPAC Merger to Go Public

ResTech startup Presto will have a valuation of about $1 billion when it goes public through special-purpose acquisition company (SPAC) Ventoux CCM Acquisition Corp., the companies told The Wall Street Journal on Wednesday (Nov. 10).

Toast Aims to Secure Restaurants’ Loyalty With B2B Payment Tools

To set its offerings apart from the many competitors on the market, Toast is working toward becoming restaurants’ go-to — not just for consumer payments, but also for B2B transactions. In its first earnings report after going public in September, the point of sale (POS) and restaurant management platform announced on Tuesday (Nov. 9) that it is prioritizing restaurants’ back-of-house needs.

Ahold Delhaize Leverages Third-Party Marketplaces to Boost eGrocery Margins

Ahold Delhaize is looking to shortcut its way to eCommerce growth. On a call with analysts discussing its third-quarter financial results, the Netherlands-based global grocery giant touted its digital investments, noting that the Giant Food-branded third-party marketplace Ship2me will sell around 40,000 additional food and general merchandise products.