Toronto-based startup Tab Commerce, which helps restaurants manage expenses, has raised USD $1 million in seed funding in a round led by venture capital firm Matchstick Ventures.
The startup’s platform streamlines the invoicing process, making it easier for restaurants to track their expenses and reconcile payments. Tab also offers a virtual credit card to help businesses manage their spending more effectively.
Matchstick brings an exceptional operating and investing breadth of experience and follows on Tab’s first institutional raise from Mucker Capital and several angel investors in 2022.
Tab was founded in 2021 by Ty Wilson (CEO) and Sam Unterman (CTO). Ty grew up in the restaurant industry as his family owns and operates several pubs.
Ty and Sam both spent several years working in restaurant kitchens and operations where they saw firsthand just how labor intensive, manual and disorganized the restaurant back office is.
They noticed that because of this, restaurants had little visibility and control of their expenses, and zero visibility into the opaque and fragmented world of restaurant wholesale purchasing.
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