TORONTO, ONTARIO and MONTREAL, QUEBEC--(Marketwired - Feb. 27, 2017) - TouchBistro and Thinking Capital today announced a partnership to offer restaurants a quick and convenient way to secure financing that can be used for operating capital or to fund business growth. Restaurateurs across Canada that are using the TouchBistro point-of-sale (POS) system can now conveniently apply for financing from Thinking Capital through their TouchBistro account portal.
Thinking Capital is a leader in the Canadian fintech industry. The company provides small and mid-size businesses, including restaurants, with access to alternative sources of financing. The company uses proprietary data and algorithms to make lending decisions based on how well a business is run and its resulting cash flow. This unconventional, technology-driven approach means restaurant owners have a much greater chance of securing financing through Thinking Capital as decisions are based on a more holistic picture of how they manage their business rather than on personal financial and credit information. Thinking Capital has provided financing to thousands of restaurants across Canada over the past ten years, and can evaluate a business and its operations in as little as 24 hours to get restaurants the capital they need.
"By partnering with TouchBistro, more restaurateurs across the country will now know that there is an alternate source of financing available to help them grow their business," says Anthony Lipschitz, Chief Strategy Officer at Thinking Capital. "In addition to being the gold standard for POS software for restaurants, TouchBistro is a peer in this market that also embraces the same technology-first approach as we do, making them an ideal partner."
Thinking Capital will be promoted by TouchBistro as a partner that makes it easier to secure and access financing for restaurant owners. While this partnership will introduce Thinking Capital to restaurants that are more likely to be highly qualified for funding, the long-term vision for this partnership is to connect the two technology platforms to drive even faster and more accurate decision-making in providing restaurateur access to capital. The partnership between these two industry leading and innovative Canadian companies gives restaurateurs access to essential tools and resources to take their businesses to entirely new levels of growth and success. It also reinforces TouchBistro's position as the all-in-one solution for restaurants.
"Thinking Capital is a trusted source for Canada's small and mid-size business owners that need fast and easy access to financing to help fund their operations or support their growth. By enabling restaurants to apply for financing online and receive a decision so quickly, provides a significant advantage to the many restaurateurs we work with that are looking to invest in their growth," says Alex Barrotti, CEO and founder of TouchBistro. "Thinking Capital is a strategic addition to our portfolio of partners. We know that our customers will greatly appreciate that they provide financing based on how well a restaurant is run, rather than the personal assets and credit rating of the restaurant owner. This approach truly acknowledges the value and hard work restaurateurs bring to the table."
The TouchBistro iPad POS is designed specifically to help restaurants increase their sales, improve the customer experience, and make informed decisions to grow their business. The app leads its category in the Apple App Store in more than 37 countries; it is also used by more than a third of Canada's English speaking privately-owned restaurants. By making the point of sale mobile, TouchBistro has revolutionized restaurant operations. With just a tap on an iPad, servers can enter table-side orders and send them to the kitchen for preparation without running back and forth. Food pictures, allergen information, and forced modifiers that tell serving staff what to upsell and list food preparation variations are all at the server's fingertips on the iPad, so there are no missed opportunities or guessing. Secure, integrated EMV payments can also be taken at the table. With TouchBistro's patented design, even complex actions like bill splitting or combining orders from different seats take only a tap or swipe. By simplifying tasks and reducing serving time, TouchBistro has proven to markedly increase table turns and sales.
For more information, or to apply for business financing from Thinking Capital, visit https://www.touchbistro.com/partners/thinking-capital/.
With offices in New York and Toronto, TouchBistro is an iPad point of sale (POS) for restaurants that helps increase sales, improve customer experience, and make better business decisions. TouchBistro is used and loved by thousands of restaurants world-wide and is perfect for all foodservice business types including restaurants, bars, cafes, breweries, food trucks, and quick service restaurants. It has been named by Business Daily News as the 2017 Best POS for Restaurants, for the third consecutive year. The TouchBistro app has been ranked as the top-grossing food and beverage app in 37 countries on the Apple® App Store(SM). TouchBistro offers a 30-day free trial that can be converted to a no-contract subscription. Additional information is available at www.touchbistro.com.
About Thinking Capital
Thinking Capital, a leader in the Canadian fintech industry with offices in Montreal and Toronto, has reinvented the way small businesses access credit. By combining industry experts and technology, Thinking Capital is enabling business owners to quickly, conveniently, and securely obtain capital to grow their business. Since 2006, more than 10,000 small- to medium-sized Canadian businesses have turned to Thinking Capital for their business financing needs. For more information, visit https://www.thinkingcapital.ca/.