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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Toast Announces $35M Winter Restaurant Recovery Fund

December 15, 2020 GMT

BOSTON--(BUSINESS WIRE)--Dec 15, 2020--

Toast, the leading restaurant management platform, today announced a $35M winter restaurant relief plan to support the foodservice industry in navigating this coming winter. With the RESTAURANTS Act currently stalled, Toast is responding with its own relief package and driving forward it’s mission to empower the restaurant community to delight guests, do what they love, and thrive during this critical time.

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Toast, the leading restaurant management platform, today announced a $35M winter restaurant relief plan to support the foodservice industry in navigating this coming winter. (Photo: Business Wire)

Toast Restaurant Recovery Fund Includes:

  • One Month Software Credit*: Toast will provide a one month software credit to all current Toast customers to help them navigate this winter.
  • Pass It On Campaign: Any Toast customer can pass their one-month SaaS credit to a restaurant facing more significant hardships.
  • Access to Toast Products: Toast will offer complimentary access for a limited time to Online Ordering, Toast Payroll, and Toast Marketing.
  • Toast Capital: Toast will provide access to funding that restaurants can use for winterization, working capital needs, and more.
  • Access to Best Practices: Toast’s Restaurant Recovery Series documents tactics, best practices, and tips on how restaurateurs can navigate the COVID-19 health crisis.

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“Toast remains hopeful that our lobbying efforts to pass the RESTAURANTS Act will result in a positive outcome for the industry. In the meantime, the Toast Restaurant Recovery Fund serves as our $35M investment in the foodservice community to give restaurants a fighting chance amidst the COVID-19 health crisis,” said Chris Comparato, CEO of Toast. “It’s crucial to help the restaurant community navigate the coming months, because restaurants are not only places that help fulfill our deep human need for connection, they also contribute to keeping the economy alive. Every dollar spent in restaurants generates over two dollars in spending across our economy. We stand with the restaurant community in facing a challenging winter together.”

Restaurant owners and operators can learn more about Toast’s relief fund here.

About Toast

Launched in 2013, Toast is democratizing technology for restaurants of all sizes. Built exclusively for restaurants and driven by a passion to enable their success, Toast connects employees, operations, and guests on an easy-to-use platform so restaurateurs can stay one step ahead of a rapidly evolving hospitality market. Tens of thousands of restaurants partner with Toast to increase revenue, streamline operations, retain great employees, and create raving fans. Toast was named to Fortune’s 2020 Best Workplaces in Technology, 2020 Forbes Fintech 50, 2020 Forbes Cloud 100, Ernst & Young’s Entrepreneur Of The Year® 2020 Listing - National Overall Winner, and the 2019 SXSW Interactive Innovation Finals. Learn more at www.toasttab.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201215005910/en/

CONTACT: Karen DeVincent-Reinbold

Sr. PR & communications manager

media@toasttab.com

857-301-6074

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE RESTAURANT/BAR WINE & SPIRITS HARDWARE TECHNOLOGY SUPPLY CHAIN MANAGEMENT FOOD/BEVERAGE RETAIL

SOURCE: Toast

Copyright Business Wire 2020.

PUB: 12/15/2020 12:00 PM/DISC: 12/15/2020 12:01 PM

http://www.businesswire.com/news/home/20201215005910/en