Toast

Toast operates a vertical B2B software and fintech model for restaurants. It provides core operational software such as POS, online ordering, payroll, loyalty and marketing as modular cloud products, then monetises the transaction flow running through that stack via payment processing and financial services. This creates a land-and-expand model: once a restaurant adopts the core POS, Toast can attach additional modules, hardware, payments and lending products across front-of-house, back-office and customer engagement workflows.

Toast is a US-listed restaurant technology company that provides a vertically integrated operating platform for hospitality businesses. Its core offer centres on restaurant point-of-sale, payments and online ordering, with adjacent software for payroll, marketing, loyalty and working-capital financing. The platform is built specifically for restaurant workflows rather than general retail, and is sold primarily to restaurants, hospitality operators and multi-location food-service groups.

Toast makes money through a mix of subscription software fees, payment processing revenue, hardware and implementation-related revenue, and embedded financial services. Its acquisition history shows deliberate expansion into workforce management and drive-thru technology, reinforcing a broader strategy to become the system of record and transaction layer for restaurant operations.