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Announcing our US$1M fundraise

Tab Commerce raises a US$1M financing round from Matchstick Ventures.

April 17, 2023

We're excited to announce that we've raised US$1M from Matchstick Ventures to help more restaurants seamlessly manage and reduce their expenses.

With this announcement, we're coming out of Beta and are beginning to expand access for restaurants across Canada and soon, the US.

Since launching into Beta in November, we've helped restaurants eliminate 85%+ of their manual back office desk work and better manage $10s of millions of expenses, ranging from food & beverage purchases, technology subscriptions, labor, equipment repairs, and much more.

The average restaurant today needs to manually manage $100s of thousands of expenses each year across a highly fragmented, constantly changing set of products and suppliers. This critical back office work is very labor intensive yet still leads to suboptimal visibility and control over expenses, and zero visibility into the opaque world of restaurant purchasing. The result is countless hours at a desk, $10s of thousands in excess costs each year and many other issues.

We're fixing these issues with the first truly automated, touchless expense control platform for restaurants - meaning we track and capture every single dollar spent directly from the source. Restaurants using Tab eliminate painfully manual back office desk work, gain real-time visibility over every dollar they spend, and get access to thousands of dollars in monthly savings. All with zero extra work or training...and especially no invoice scanning.

With backgrounds in the restaurant industry and experience across technology, finance, and more, the Tab Team is incredibly excited to continue helping restaurant operators better manage and reduce their expenses.

This round follows our first institutional raise from Mucker Capital and several angel investors in 2022.

If you're a restaurant operator interested in learning more - visit our site or send an email to our Co-Founder & CEO, Ty Wilson, at ty@tabcommerce.com.

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questions & answers

Frequently Asked Questions

Who is Tab Commerce?

Tab Commerce is a financial technology company providing the only corporate card purpose built for restaurants. Tab enables restaurants to easily issue unlimited virtual and physical cards, automate expenses, earn rewards, and more.

How does the Tab Corporate Card work?

Get started in minutes with no credit checks or personal liability. Tab cards work just like any other corporate card but with the benefits of powerful spend control software built just for restaurants.

How do Tab cards work across multiple locations?

Tab cards enable restaurants to completely automate the complexity of managing corporate cards across multiple locations. From card issuing and management, assigning transactions to the right locations, transaction splitting, and knowing exactly what each location owes on the statement. It's all incredibly simple with Tab.

Where can I use Tab Cards?

Anywhere that Visa is accepted (most places). Most vendors accept cards, but some might only be available upon request. With the Tab Network, we work directly alongside our restaurant partners to enable their largest vendors to accept Tab Cards without passing on fees.

What are the limits on the card?

Easily apply for credit limits or use cash by securely connecting each locations primary bank accounts with Tab.

Can I add my team to Tab?

You can create as many users as you would like. You can have Admins who can do everything across all locations and Employees who can only see the cards that you have assigned them. Managing this is incredibly easy from within the Tab Platform.