FT+Partners：2024餐饮科技报告-强大的技术支柱正在成为餐桌上的赌注（英文版）-131正式版

FTPARTNERSFINTECHINDUSTRYRESEARCHApril2024

RestaurantTech

AStrongTechnologyBackboneis

BecomingTableStakes

TableofContents

CONTACT:

STEVEMCLAUGHLIN

Founder,CEO,ManagingPartner

steve.mclaughlin@

(415)385-9318

SUBSCRIBE1.IntroducingFTPartners4

2.ExecutiveSummary7

3.MarketOverview9

4.FinTechSolutions13

5.IndustryLandscape35

6.SelectedFinancingandM&AActivity38

7.PublicCompaniesAnalysis47

8.CEOInterviews54

9.SelectedCompanyProfiles80

10.SelectedM&ATransactionProfiles107

11.FTPartnersOverview119

Highlyproprietaryinformation.UnauthorizeddistributionwithoutpriorconsentfromFinancialTechnologyPartnersLP,FTPSecuritiesLLCorFinTechPartnersLimited(together“FTPartners”)isstrictlyprohibited.Theinformationinthisreportreliesuponavarietyofpublicsources,theaccuracyofwhich

cannotbeguaranteed.Nopersonsorentitiesshouldusetheinformationindecisionmakingwithoutindependentinvestigationorprofessionaladvice.Thiscommunicationshouldnotberegardedasanoffertosellorasasolicitationofanoffertobuyanyfinancialproductorservice,norisitanofficial

confirmationofanytransaction,orrepresentativeofanofficialpositionorstatementofFinancialTechnologyPartnersLP,FTPSecuritiesLLCoranyotherrelatedentity.FTPSecuritiesLLCisaFINRAregisteredbroker-dealerandFinTechPartnersLimitedisanFCAappointedrepresentative.©2024

TableofContents

SelectedCompanyProfiles,M&ADealProfilesandCEOInterviews

CompanyProfilesM&AProfiles

Sports&Entertainment

Business

CEOInterviews

TimMcLaughlin

CEO&Co-Founder

JeffHindman

CEO

TonySmith

CEO&Co-Founder

Zach&MattHyman

Co-CEOs&Co-Founders

SamirZabaneh

CEO&Chairman

AlexBroeker

CEO&Founder

SiriKiessling

CEO

FTPARTNERSRESEARCH

3

I.

IntroducingFTPartners

FTPartners–TheMostTrustedBrandinFinTech

ComprehensiveFinTechAdvisory

ExpansiveGlobalPresenceExtensiveNetworkAcrossFinTechEcosystem

CEOsInvestors

Payments

MinorityRecap

AltLending

CapitalMarkets

RealEstateTech

BankingTech

WealthTech

HealthTech

FMS

BPO

550+

FinTech

Deals

MajorityRecap

FullSale

SPAC

IPO

GrowthEquity

Consortium

Founders

Executives

Conferences

Board

Members

Consultants

Influencers

GRC

SaaS

Merger

WebinarsMedia/PressLBO

Crypto

FTPartnersClientFTPartnersRelationshipsFinTechCoverage

ProprietaryFinTechDatabaseLeadingProducerofFinTechResearch

56,000+

Companies

tracke

17,000+

M&Atransactions

orded

22,000+

InvestmentFirms

tracked

28,000+

Financingtransactions

recorded

FTPARTNERSRESEARCH

5

FTPartners’ExpertiseAcrossRestaurantTech&POSPayments

SelectedTransactions

FTPARTNERSRESEARCH6

II.

ExecutiveSummary

RestaurantTech

ExecutiveSummary

Whilethemasksmaybefading,theCOVID-19pandemicleftanindeliblemarkontherestaurantindustry.COVID’simpact

continuestobefeltacrossallfacetsoftheindustryincludingreservations,takeoutanddelivery,staffing,inputpricing,

marketing,andpayments.Evenasconsumershavereturnedtoin-persondining,demandforoff-premiseinteractionsand

omni-channelexperiencesisnotdissipatinggiventhedegreeofconveniencetheyprovide.Tomeetthisdemand,

restaurantsmustbeabletohandleandcoordinateonlineorderinganddelivery(whetherthroughtheirownchannelor

thirdparties),orderaheadandpick-up,andindoor/outdoordiningoptions.Otherdecisionpointsinvolvetouchless/

cashlessin-personinteractionsincludingnewpaymentmechanisms,aswellaschallengesinmarketingtoandengaging

withconsumersacrossmultiplechannels,includingnowTik-Tok.Meanwhile,inputpriceshavecertainlyinflated,and

staffingchallengesremainasrolesaredifficulttofillandemployeedemandsarehigherthanever.

Tosolvethesechallenges,restaurantsmustturntotechnologysolutionsingreaterwaysthaneverbefore.Infact,a

strongtechnologybackboneisbecomingtablestakesacrosstheindustry.Fortunately,FinTechandothertechnology

providersarerisingtotheoccasionwithtailoredsolutionsthatsimplifycomplexity,streamlineoperations,reduce

operatingcosts,andcreateamoreseamlesscustomerexperience.

Historically,restauranttechnologyprovidersswaminseparatelanes,buttoday,software,hardware,andprocessingare

comingtogetherwithsomeplatformsabletoreplaceamultitudeofpointsolutionproviders.Whilebest-of-breedpoint

solutionproviderswillalwayshaveanopportunityinthespace,weexpecttoseemoreconsolidationastheplatform

playslooktoserveanincreasinglylargerrolefortheircustomers.

Inthisreport,wediscussthechallengesrestaurantsarefacingandhowtechnologysolutionsareeasingtheseburdens,

provideadetailedcompanylandscape,andnumerouscompanyprofilesalongwithtransactionoverviewsofnotableM&A

dealsandCEOinterviewswithkeyplayersinthespace.

III.

MarketOverview

RestaurantMarketOverview

CurrentStateoftheMarket

A$1Trillion+MarketOpportunity

Risinginputcosts,supplychaindisruptionsandincreasingcompetitionhaveputstrainonrestaurantoperatorsacrossthecountry,andtheseheadwindsmaycontinuein2024.

Despitethesepersistentchallenges,manyoperatorsarecautiouslyoptimisticthattheindustrywillsustainitscurrentlevelofgrowththisyear,withtheNationalRestaurant

Associationpredictingsalesofmorethan$1.1trillionin2024.

MarketCommentary

TotalUSMonthlyFood&BeverageSales($billions)

$211.3

$224.5$225.5$225.7

$243.8$249.4

$255.8

$265.8$266.8

$274.5$281.0$280.0

•Thereare~750,000restaurantsoperatinginthe

US,downfrom~1millionsincetheCOVID

pandemicforcedmanyrestaurantstoclose

•Restaurantsalesareprojectedtoreach$1.1

trillionin2024,driveninpartbyhighermenu

pricesduetorisinginflation

$181.0

•Employmentinfoodserviceisexpectedtogrow

by200,000in2024,reachingatotalof15.7

millionjobs

Q1'21Q2'21Q3'21Q4'21Q1'22Q2'22Q3'22Q4'22Q1'23Q2'23Q3'23Q4'23Q1'24

“Withmorethan$1trillioninsalesexpectedthisyear,thestateoftherestaurantindustryisstrongthankstotheagilityofitsoperators

andemployees…restaurantsarefindingwaystoadapttothechallengesofincreasedfoodcostsandsupplychaindisruption.Restaurants

•Risingcostsremainasignificantheadwind

facedbyrestaurantoperators,withmenuprices

increasingby4.5%inthelast12months

haverespondedwelltocustomers’desiretohavemoreopportunitiestoenjoyrestaurantmeals,whichcontinuestogrowsales,create

employmentopportunities,andfosterastrongsenseofcommunity.”

•Competitionisincreasingastheeconomy

slowlyrecovers,puttingpressureonoperators

todifferentiateandincreasemarketingspend

MichelleKorsmo

President&CEO

FTPARTNERSRESEARCH

10Source:NationalRestaurantAssociation

RestaurantMarketOverview

MacroeconomicChallenges

ATech-OrientedSolution

SincetheCOVID-19pandemic,restaurantshavefacednumerousobstacles.Chiefamongthemarerisinginflation,thestruggletoattractandretainqualitystaff,andtherapidshift

inconsumerpreferencestoonlineorderinganddelivery.Astherestaurantindustryevolvestowardamoretech-centricmanagementapproach,alternativeslikevirtualkitchens

haveemergedtoaddressanumberofthesepainpointsandallowrestaurantoperatorstoscalemoreefficiently.

RestaurantPainPointsPotentialSolutions

Inflationandrisingfoodcosts

•Restaurantoperatorscanreducecostsbysourcinglocallyandbuyinginputsinbulktoincreaseefficiencieswithsuppliers

•Adjustedoperatinghoursanddiversifiedrevenuestreams(i.e.catering,takeout)canalsomitigateinflationarypressures

Staffingshortages

•SincetheCOVIDpandemicbegan,restaurantshavestruggledtohireandretainqualitytalent

•Investmentintrainingprograms,offeringbonusincentivesandencouragingfeedbackhavehelpedpromote&retainemployees

Overlycomplexmenus

•Fewerchefsandincreasinglybroadandcomplicatedmenushaveprovenunfeasibleformanyrestaurants

•Simplifyingmenuoptionstolowercosts,savetimeandreduceunnecessaryfoodwastehavebeensuccessfulsolutions

Operationalcosts

•TheCOVIDpandemichasalteredthewayconsumersdine,withincreasedemphasisbeingplacedondeliveryandtakeoutoptions

•Virtualrestaurants,orghostkitchens,havebecomewidespreadastheconsumerdiningexperienceshiftstowarddelivery-centric

Changingconsumerdemands

•Digitalmarketingandonlinereviewsheavilyshapeconsumerpreferencesanddriveadditionalbusinesstotherestaurantindustry

•Atargeted,socialmediadriven360-degreemarketingstrategycanhelptoincreaserestaurantvisibilityandattractnewcustomers

Hightechvs.hightouch

•Thein-persondiningexperiencehaschangeddrasticallysincethepandemic,withdigitalmenusandQRcodesbecomingthenorm

•Restaurantsmuststrikeabalancebetweenthisnewtech-centricmanagementapproachandthetraditionaldiningexperience

FTPARTNERSRESEARCH

11Source:GrubHub,OpenTable,DoorDash

RestaurantMarketOverview

Competition&CustomerAcquisition

ATech-OrientedSolution

AccordingtoMarket.us,fooddeliveryisa~$180billionindustryglobally,withtwo-thirdsofthemarketshareaccountedforbythird-partyplatforms.AggregatorslikeGrubHub,

UberEats,andDoorDasharecompetingwithrestaurantstoacquiredeliverycustomers,squeezingprofitmargins.Restaurantsmustweightheprosandconsofthird-partyvs.D2C

deliverychannelstooptimizecostsandincreasecustomersatisfaction.FinTechsolutionprovidersofferamassiveopportunityforrestaurantstointegrateonlineorderingand

deliverytechsolutionsintooneplatform,increasingcustomerengagement,loyaltyandbottom-lineperformance.

ComparisonofThird-PartyDeliveryPlatformsThird-Partyvs.D2CDeliverySolutions

ProsCons

•Marketshare:~23%

•Marketshare:~8%

•FeeStructure:threepricingtiers

rangingfrom5-20%ofeachorder,

dependingonlevelofmarketing

chosen,andadditional10%deliveryfee

•FeeStructure:threepricingtiersand

variouslevelsofmarketing,with6%fee

forpickupordersand15-30%for

deliveryorders

Third-Party

•Brandnamerecognition

•Largeuserbases

•Marketingbenefits

•Highcommissionfees

•Competitionwithother

restaurants

•Convenience

•Lesscontroloverthedelivery

experience

•Morecontroloverdelivery&

customerexperience

•Requiresmorework&

resources

•Marketshare:~67%

•FeeStructure:6%forpickups,15-30%

fordelivery,and15%fordeliveryorders

inwhichyourrestaurantfulfillsthe

deliveries

•Mark

•FeeStructure:samepricingstructure

asparentcompanyUber,whichmeans

6%forpickupand15-30%fordelivery

D2C

•Keep100%ofprofits

•Controlcostsassociatedwith

makingdeliveries

•Costsassociatedwithdrivers,

vehicles&routeoptimization

•Greatermarketingeffort

FTPARTNERSRESEARCH

12Source:Market.us,Companywebsites,SevenRooms,BloombergSecondMeasure

IV.

FinTechSolutions

FinTechSolutions

RestaurantValueChain

FinTech-PoweredRestaurantManagementSolutions

FinTechsolutionstoucheverycorneroftherestaurantvaluechain,fromreservationsandonlineordering/deliverytocustomerloyaltyandengagement,payments,

financialmanagement/dataanalytics,andmuchmore.

POS/Payments

Loyalty&Rewards

•Paymentterminalforcredit&

debitcards

•TabletintegratedwithKitchen

DisplaySystem(KDS)

•Receiptprinterforcustomers

•Personalizedoffers&discounts

•Engagewithguestsonsocial

media

•Reviews&surveys

FinancialMgmt./DataOnlineOrdering/Delivery

•Accounting,payroll&tax

compliance

•Inventory&cashflowmgmt.

•Dataanalytics&reporting

•Streamlineorderingviathird-

partyordirectonlineorders

•IntegratewithKDSsystemto

managemultiplechannels

ReservationsTable-TopSolutions

•Onlinetablemgmt.softwareto

tracktablebookings

•Communicatewithguests

•Staffscheduling

•Payatthetableviatabletdevice

•Splitthecheckamongguests

•Encryptedpaymentswith

increasedtransactionsecurity

FTPARTNERSRESEARCH

14

FinTechSolutions

POS/Payments

CenterpiecetoEffectiveRestaurantManagement

RestaurantPOSor“pointofsale”systemsarethehardwareandsoftwareusedbyrestaurantstotakecustomerorders,manageinventoryandacceptpayments.The

POSterminalisthehardwarecomponent,usuallyaniPadorsimilartabletdevice,andrunsoneitherApple,AndroidorWindowssoftware.Additionalfeaturesinclude

aKDSor“kitchendisplaysystem,”whichcentralizesordersforbackofhousestaff,aprinterforreceipts,andapaymentterminalwhereguestscanswipe,tapor

insertacreditordebitcardtomakeapayment.

RecentTrendsinRestaurantPOSSystems

•POSsystemsarepresentinalmosteverytypeofrestaurant,includingfull

service,quick-service,foodtrucksandmore

•ThemainbenefitsofaPOSsystemincludeitsabilitytoincreasesales,

improvetheguestexperienceandfacilitatesmarterbusinessdecisions

•Therestaurantindustryhasrecentlyseenasurgeincloud-basedPOS

systemsthatallowbusinessestoruntheirentireoperationmoreefficiently

•AccordingtoZionMarketResearch,theglobalrestaurantPOSsoftware

marketwasworth$9.4billionin2022andisprojectedtoreach$17.9billion

bytheendof2030,implyingaCAGRofnearly8.4%(1)

•POSsystemsarealsoadaptingtonewpaymentsolutionsascashcontinues

tofalloutoffavor(2)

•Paymentprocessorsareexpectedtooffermorecontactlesspayment

optionsfollowingtheendofthepandemic(2)

Source:OpenTable

1.ZionMarketResearch

2.TouchBistro2023RestaurantReport

FTPARTNERSRESEARCH

15

FinTechSolutions

POS/Payments(cont.)

MarketShiftfromLegacytoCloudPOSSystems

Next-generation,cloud-basedPOSsystemshavequicklybecomethegoldstandardoperatingsystemintherestaurantindustry,offeringoperatorstechnologically

advancedfeatureswithaneasy-to-useinterfacewhileensuringseamlessscalabilityfortheirbusinesses.84%offull-servicerestaurantsand72%ofquick-service

restaurantsreportedimprovementinrevenueperformancebyswitchingtonext-generationPOSsystems.(1)76%ofrestaurantschangedtheirPOSsystemin2022,

with51%purchasingabrand-newsystemand25%switchingfromonePOSprovidertoanother.(2)

BenefitsofNext-GenerationPOSSystems(3)Top5MostImportantConsiderationswhenChoosingaPOSSystem(2)

Increasedmobility:allowserverstostayactiveonthefloor

ratherthanconstantlyreturningtotheterminaltoinputorders

Improvedcommunication:significantlyreduceerrorsby

allowingserverstocommunicateordersdirectlytothekitchen

withouttickets

Dataprotection:storecustomerdataonanonlineprotected

cloudplatformratherthanlocalnetwork,allowingforconstant

securityupdateswithoutneedinganin-storetechnician

201920212022

46%

44%

41%

39%

34%34%

33%

31%31%30%

30%30%

29%

26%

19%

Analytics:trackpopularorders,returningcustomersand

busiesthoursoncustomizabledashboardstoincrease

restaurantefficiency

Enhancedset-up:eliminatetheneedforanon-siteserver

configurationwithdevicesthatcanbepluggedinand

connectedtothecloud

EaseofUseCustomerSupportAbilitytoSupportAnalyticfeaturesPrice

1.StarfleetResearchforTheSmartDecisionGuidetoRestaurantManagementandPOSSystems

2.TouchBistro2023RestaurantReport

3.RestaurantTechnologyNews:“WhyRestaurantsareUpgradingTheirRestaurantPOSSystems”

FTPARTNERSRESEARCH

16

FinTechSolutions

POS/Payments(cont.)

SelectedFinTechDisruptorsinPOS/Payments

Asdemandforcloud-basedPOSsystemsrapidlygrows,keyinnovatorsaresucceedingwiththeirspecializedsoftwaresolutions.

•Squareisanindustryleader

inPOSsystems

•TheCompanyoffersahighly

customizableandadvanced

platformforallformsof

restaurants

•Softwareiscompletelyfree

ofchargewithbuilt-in

transactionfees

•Verypopularwithsmaller

restaurantsduetotheirper-

transactioncoststructure

•Unionisanext-gencloud

basedPOSandhospitality

engagementsystembuilt

specificallyforhigh-volume

barsandrestaurants

•Fueledbyaproprietaryon-

premisedatalayer,Union’s

systemdelivers

transformationalinsights

andon-premiseexperiences

notonlyforoperators,but

alsoguestsandbrand

partners

•Union’sengagementsystem

isproventoefficientlydrive

morerevenuepercustomer

andservemorecustomers

perhour–onaverage

partnerssee28%increasein

checksize

•Lightspeedisahugenamein

theretailPOSspacewithits

barcodedproducts

•Slightlymoreexpensivethan

othercompetitorsleadingto

morelarge-scalerestaurant

clients

•Idealforrestaurantswith

largeandcomplexinventory

duetotheirretailstock

controltools

•Inthelast3years,

Lightspeedacquired

Upserve,ShopKeepand

Gastrofixtorapidlyexpand

intorestaurantPOS

•Lavuisagrowingsoftware

providerthatoffershighly

customizablePOSsystems

dependingonrestauranttype

•Withover12different

restauranttypes,Lavuoffers

customfeaturesforpizza

andice-creamshops,delis

andmore

•Bluetoothscaleplug-in

allowingsystemtoactively

trackinventoryweight

•TouchBistroisanall-in-one

POSandrestaurant

managementsystem

poweringover29,000

restaurantsglobally

•Offerseverythingfrom

paymentprocessing,kitchen

displaysystems,giftcards,

loyalty&marketing,online

ordering,reservationsand

more

•TouchBistrohasdeployed

over64,000POSterminals

globally,andprocessesover

$13billioninpayments

annually

FTPARTNERSRESEARCH

17Source:Companywebsites

FinTechSolutions

POS/Payments(cont.)

Guest-LedMobilePOSSystems

LegacyPOSplatformsarenotdesignedforconsumerengagement,datacollection,andanalytics.Restaurantbrandsusingthesesystemsfaceproductcodeinconsistency,whichpreventsaccurate

customerconsumptiondataanalysis.Thislackofinsightintoconsumerspendinghabitshasledtobillionsofdollarsinmarketingspendwastedoninefficienttoolsbyrestaurantseachyear.Unionis

aFinTechcompanywhoseguest-led,mobilePOSsystemistransformingthewaybrandsinteractwithconsumersandinfluencetheirpurchasingbehavior.Viareal-timeSKU-levelconsumerdataand

targetedproducttrials,Unionhelpsbrandsdrivetrialandloyaltyusingconsumerspendinghabitstoinformproductrecommendations,increasemarketingeffectivenessanddriverepeatbusiness.

CaseStudy:Union

Unionisamodernhospitalityoperatingsystembuilttoimproveguestexperiencesforbarsandrestaurants

Guest-LedOrder&PayDistribution

•Guestsleadtheexperienceandeliminatethewaittoorder,re-orderandpay

•Noappdownloadrequired–guestssimplyscanaQRcodetoorderandcan

useAppleorGooglepaywithoutenteringcreditcardinformation

•Guestsreceiveorders80%faster,allowingserverstofocusmoreon

hospitalityandcustomerservice

•Advertiseproductsdirectlytogeneralmanagersandhigh-volumebarowners

throughtheUnionplatformtodrivedistribution

•Customersareinvitedtotrialproductsviapromotionalbrandadvertisementson

Union’smobileapp

Sales&StaffTips

•Barsthatadoptguest-ledorderingseeaveragechecksizesincreaseby28%

•Unionin-apprecommendations,offersandrewardsdriveanincreaseinsales

andstafftipsbyupwardsof70%

•Digitalmenusallowreal-timeupdatesandboostrevenuewithstrategic

upsellingandspecialofferpromotions

Trial&Loyalty

•Guaranteeproducttrialstotargetedconsumersviamobileorderingandpayments

•Measuretheimmediateandfutureimpact

StaffEfficiencyData&Insights

•Staffdoesn’tneedtofocusonenteringordersanddroppingchecks,allowing

themtocover4xmoretables

•Guest-ledorderingseamlesslyintegrateswithUnion’sPOS,soguestscan

effortlesslyopentheirtabforsecurepaymentpriortoordering,enabling

serverstotapintoconsumerinsightspriortotakingtheirorders

•Usereal-time,SKU-levelconsumerdatatoprovidebrandskeyinsightsinto

consumption,basketinteractions,accountsandconsumerdemographics

•Union’sOnPremImpactNetworkleveragesdeep,reliableinsightstoautomatically

facilitatemeaningfulengagementwithconsumers

FTPARTNERSRESEARCH

18Source:Union

FinTechSolutions

POS/Payments(cont.)

BespokeSolutionsOfferedbyTopPOSProviders

LeadingPOSprovidersareofferinghighlycustomizable,differentiatedsolutionstailoredtothebusinessneedsofeachrestaurant.

•PartneredwithGoogletoallow

userstoorderstraightfrom

GoogleSearch/Maps

integratedwithToastPOS

•Releasednewreservation

technologytointegrate

directlywiththeirPOSsystem

•Partneredwithpayment

processorFreedomPayto

allowcompaniesalready

usingFreedomPay’splatform

tointegratewithToast

•Builtnewservicecalled“Seat

andSend”allowingcustomers

tosendorderstraightto

kitchenwhenseated

•Releasedsuiteofproprietary

hardwaretointegratewith

SpotOnandoffer

customizablesolutionsto

everyrestaurant

•Highlycustomizablefor

differentworkstreams

•OperatesoneveryOS

includingAppleandLinux

•PurchasedbyFiservcreating

multiplepossibleintegrations

withbig-data

•Primarilyapaymentprocessor

providingexcellentpayment

support

•Ratesarevariabledepending

onclient

•Dozensofappsavailableon

Cloverappmarketforfurther

customizability

FTPARTNERSRESEARCH

19Source:Companywebsites,Companypressreleases

FinTechSolutions

OnlineOrdering/DeliveryTech

GlobalShifttoOnlineOrdering/Delivery

Onlineorderingisanowcriticalcomponentoftherestaurantindustrythathasseentremendousgrowthoverthepastfewyears.User-friendlymobileappsandtech-

enableddrivernetworkshavehelpedfacilitatetheexpansionofonlineorderinganddelivery,aidedbyatangibleshiftinconsumerdiningpreferencesinresponseto

theCOVIDpandemic.

KeyTrendsinOnlineOrderingTotalUSMealDeliveryRevenue(2)

•Traditionally,fooddeliverywaslargelyreservedtopizzaandChinese

restaurants,butduringtheCOVIDpandemic,onlineorderingbecamean

essentialpartofeveryrestaurant

($inbillions)

$96

$102

$106$109

$112

•BeforetheCOVIDpandemic,theUSrestaurantindustrywasgrowing

around3-4%peryear,whiledeliverysalesweregrowingat7-8%peryear(1)

$69

$76

$87

$55

•Evenwithrestaurantsreopening,manycustomershavebecome

accustomedtoonlineorderingandtheindustryisprojectedtocontinueits

growth(1)

$23

$28

$35

•Tailwindsintheonlineorderingdeliveryspaceincludethedemographic

shifttodenselypopulatedurbancentersandtheriseof“big-ticket”or

grouporders

2017A2018A2019A2020A2021A2022A2023A2024E2025E2026E2027E2028E

1.McKinsey:“Orderingin:Therapidevolutionoffooddelivery”

2.StatistaMarketInsights2024

FTPARTNERSRESEARCH

20

FinTechSolutions

OnlineOrdering/DeliveryTech(cont.)

Directvs.Third-PartyOrdering

Arestaurant’sonlineservicesaresplitbetweentwoverticals,deliveryservicesfromitsownwebsiteanddeliveryfromthird-partysources;manyrestaurantsoffera

combinationofbothforms.Allelsebeingequal,orderingdirectlyfromtherestaurantispreferabletothird-partyserviceswhichcharge15-30%ofthemealpriceper

transaction.(1)ThisratewascappedduringtheCOVIDpandemic,butmanystatesmayliftthiscapcausingindividualonlinedeliverytobecomesignificantlymore

important.

KeyStatisticsinRestaurantDeliveryFinTechSpotlighton

25%

ofrestaurantsalesaremade

throughdelivery(1)

17%

Averageincreaseinsalesfrom

switchingtodelivery(1)

SolutionsOverview

OrderSolutions

Oloincreasesdirectsaleswithitsfast-orderingplatform

combinedwithautomaticpairingwiththird-partycouriers,

allowingbrandstoexpandinasimpleandcheapway

2.7

Averagenumberofonlineordering

solutionsusedbyrestaurants(1)

97%

ofrestaurantsusesomeformof

onlineorderingplatform(1)

PaymentSolutions

Olocheckoutintegratesapaymentplatformoffering

borderlesscheckout,mobilewalletandcard-on-filesupport

forcustomerconvenience

70%

ofcustomerssaythey’drather

orderdirectoverthird-party(2)

DataSolutions

Olocollectsalldatatodeliversolutionsforunlockinglifetime

valuethroughfeedbackmanagement,guestdatapointsand

targeteddata

Source:Olo

1.TouchBistro2022data

2.HospitalityTech2018data

FTPARTNERSRESEARCH

21

FinTechSolutions

OnlineOrdering/DeliveryTech(cont.)

SquareLaunchesNewGenerativeAIFeaturestoPowerRestaurants

InOctober2023,SquareannouncedthelaunchoftennewgenerativeAIfeaturesthatrestaurantscanusetoautomateoperations,speedupworkflowsandregaintime.Thesetools

aredirectlyintegratedintoSquare’spowerfulbusinesssoftwareandprovidethousandsofrestaurantsonSquare’splatformwiththeabilitytomanagemultifaceteddemandsand

streamlineburdensomeoperations.Automatedmenugeneration,itemdescriptionsandkitchenworkflowprocessingsaverestaurantmanagersvaluabletimeinupdatingmenus

andprocessingorders,whilealsoenablingAI-generatedproductrecommendationsbasedonbusinessinsights,leadingtoincreasedoperationalefficiency.

SelectedAI-PoweredRestaurantManagementSolutionsExecutiveCommentary

Menugenerator:RestaurantscancreateafullmenuonSquareina

matterofminuteswithonlyafewclicks,givingthemvaluablemomentum

andtime-savingswhenlaunchingoperationsonSquare.

Kitchencategories:Square’sKDScanauto-assignmenuitemstokitchen

categoriesandstationscreenstocreatesmoothworkflowsforback-of-

housestaff.Restaurantmanagerscankeepmenusandoperationsupto

datebyeditingandsavingcatalogswithonlyafewclicks,expediting

orderprocessing.

“Squareisuniquelypositionedtobethetechnologypartnerthatenablesthemostseamless,

intuitiveapplicationsofAI.Ourgoalistohelpbusinessesofallsizesscaletheiroperationsand

takeadvantageofthesenewinnovations.We’velongbeendifferentiatedbythedepthand

breadthofourintegratedecosystem,andbringinggenerativeAIintoourproductscontinuesto

putSquareanditssellersattheforefrontoftechnology.”

SaumilMehta

HeadofPointofSale&Omnichannel

Itemdescriptions:RestaurantsrunningSquare’sPOSsoftwarecaneasily

setupandmanagetheirmenus.Withcompelling,auto-written