SALIDO, the restaurant management platform, has been acquired by Michigan-based North American Bancard, the electronic payment processor. The terms of the transaction were not disclosed. “In the face of the COVID-19 pandemic, the resilient women and men of the hospitality industry are adapting to survive in this unprecedented and difficult business landscape,” said Shu Chowdhury, cofounder and CEO of SALIDO. “We’re both humbled and lucky to support our amazing customers during this critical time. By placing SALIDO onto NAB’s payments and distribution platform, our team will focus solely on continuing to build best-in-class solutions for our hospitality partners with their success remaining our top priority.”
In the face of the COVID-19 pandemic, the resilient women and men of the hospitality industry are adapting to survive in this unprecedented and difficult business landscape. We’re both humbled and lucky to support our amazing customers during this critical time. By placing SALIDO onto NAB’s payments and distribution platform, our team will focus solely on continuing to build best-in-class solutions for our hospitality partners with their success remaining our top priority. – Shu Chowdhury
Founded in 2012 by Shom Chowdhury and Shu Chowdhury, SALIDO had raised a total of $16M in funding across three rounds. Investors in the company include 500 Startups, Alumni Ventures Group, Great Oaks Venture Capital, Total Access Fund, Third Kind Venture Capital, Scott Belsky, Accelerator Ventures, Grape Arbor VC, New York Venture Partners, Colle Capital Partners, Purple Arch Ventures, Shana Fisher, First Data, Jan Cieslikiewicz Ventures, JL Company I LLC, Jean-Georges Vongerichten, and Phil Suarez.
The majority of the SALIDO team is joining NAB. Clients include Eataly, Restoration Hardware, Eleven Madison Park, Laconda Verde, and Jean-George’s ABC Kitchen “We are delighted to announce the addition of the SALIDO team and their hospitality-focused product to the NAB family,” remarked NAB Founder and CEO Marc Gardner. “We will continue investing heavily in expanding SALIDO’s core technology and evolving our Restaurant OS offerings. Our 3000+ Sales Partners are excited to begin SALIDO distribution on top of NAB’s EPX payments platform.”
We are delighted to announce the addition of the SALIDO team and their hospitality-focused product to the NAB family. We will continue investing heavily in expanding SALIDO’s core technology and evolving our Restaurant OS offerings. Our 3000+ Sales Partners are excited to begin SALIDO distribution on top of NAB’s EPX payments platform. – Marc Gardner