TouchBistro founder Alex Barrotti, left, and incoming CEO Samir Zabaneh at their Toronto office on April 12, 2021.TouchBistro Inc. has hired a veteran financial services executive to replace founder Alex Barrotti as CEO, making the Toronto restaurant software firm the latest prominent Canadian technology “scaleup” to bring in a seasoned professional to lead its next stage of growth.
“The evolution from startup to scaleup requires a more operational, experienced set of hands, and I think Samir is the right person to lead this company,” said Peter Misek, a board observer and partner with TouchBistro investor Framework Venture Partners. At the time, TouchBistro had thousands of restaurant customers, primarily in Canada, the U.S., Mexico and Britain. It offered a variety of software tools, including a table-side ordering system on tablets for waiters, kitchen-management display systems, and reporting and analytics for managers, displacing conventional fixed terminals. It also had payment revenue-sharing deals with JPMorgan Chase in the U.S., Barclays in Britain and Mexico’s Evo.
Mr. Zabaneh said “Toast has made massive bets they’d spend to gain market share. That could have gone different ways, [but] it worked out very well for them. I’m absolutely respectful for what they’ve accomplished. But it’s not one-winner-take-all. The market is so immense, and what gives me absolute confidence in what we’re doing is that we win more [deals] than we lose” in competitive bids.
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