Announcing our $2.5M Seed Round, the Official Launch of Tab Corporate Cards for Restaurants & Partnership with the Texas Restaurant Association
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We’re excited to make three big announcements today:
→ Our US$2.5M Seed Round
The round was led by Toba Capital with participation from existing investors Matchstick Ventures and Mucker Capital and new investors Cascade Seed Fund, as well as several restaurant customers. This brings our total capital raised to US$4M.
We’re incredibly excited to work alongside our new and existing partners to continue building the standard cost control platform for restaurants.
→ Introducing the Tab Corporate + Purchasing Card
The Tab Corporate + Purchasing Card is the first modern corporate card built just for restaurants. It unifies the benefits of a modern corporate card with purchasing cards and powerful spend control software & tools designed to help restaurants control costs, eliminate overspending, simplify the back office, and grow profit margins.
Key Points:
Everything we do at Tab has hospitality at its core. Getting started and fully onboarded with Tab takes just 30 minutes. Our white glove onboarding, 24/7/365 live human support, and robust training ensures a seamless experience end-to-end for restaurants of all sizes - from independents to multi-location, franchises, and enterprise.
Get Started or Learn More today.
Additionally, you can join us on September 24 at 1pm CT (2pm ET) for our first Tab Sessions, our bi-weekly webinar series with live product demos, customer stories, and more. Register.
→ The Official Corporate Card of the Texas Restaurant Association
We’re excited to announce our partnership with the Texas Restaurant Association and the launch of the TRA Corporate Card, the Official Corporate Card of the Texas Restaurant Association.
Powered by Tab Commerce, the TRA Corporate Card unifies the benefits of a modern corporate card, powerful spend control software, and the leading business association for the 57,000 restaurants across Texas.
Key Points:
"The TRA Corporate Card will put significant cash back in the pockets of Texan restaurants while enhancing financial control & profitability. The TRA is committed to the success of restaurants across Texas and our partnership with Tab Commerce furthers that mission."
- Emily Williams Knight, Ed.D., President & CEO, Texas Restaurant Association
To learn more about this first-of-its-kind partnership, view our announcement or our partner landing page.
About Tab Commerce
Tab Commerce is a financial technology company providing solutions that modernize how restaurants spend money and manage finances. Our team comes from background across the restaurant industry and have been building alongside it since our founding in 2021.
We’re grateful to work alongside this great industry every day and will continue our hard work to drive real value for restaurants. Over the next few months, we’ll be releasing some new powerful financial products built just for restaurants - the card is just the beginning.
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Tab Commerce partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Tab Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank.
Book a call with a member of our team to learn more, get a walkthrough of our product, and if you'd like, get started with Tab.
Tab Commerce is a financial technology company providing the most secure way for restaurants to spend money. Get virtual operating accounts, modern corporate cards, and more - all secured with our payment verification.
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.
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.
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.
Easily apply for credit limits or use cash by securely connecting each locations primary bank accounts with 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.
Virtual operating accounts are business checking accounts but used specifically for the chaos of spending and operations. Virtual operating accounts isolate this chaos away from your primary bank, increasing security, simplifying expenses, and providing access to powerful embedded products to control spending and automate back office work.
Yes, you can hold a balance in the virtual operating accounts. Funds in the account will earn 2% APY, calculated daily and paid monthly.
Yes, accounts are eligible for FDIC insurance up to $250,000.
You can easily link your primary bank accounts and set up auto-funding to maintain a minimum balance. You can also receives sales payouts from your POS or delivery apps into the accounts via our Deposit Management product.
Simply provide your virtual operating accounts routing & account number to your vendor, they'll do the rest.
With just 2-clicks, you can send a same-day ACH to any of your vendors. You can also pay with Tab corporate cards.
Keep your primary bank account, and link it right into Tab. It's good to separate the chaos of spending and operations away from where your savings and the bulk of your cash sits.
Each virtual operating account has a unique account & routing number. This information can easily be inputted into your POS, delivery apps, payroll systems, and any other revenue or expense source.
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