Waitr, the Louisiana-based food ordering and restaurant delivery platform, has completed the asset acquisitions of three payment processing companies that CEO Carl Grimstad said are critical to the company’s future growth strategy.
Announced just before the Labor Day holiday, Waitr has acquired ProMerchant, Flow Payments and Cape Cod Merchant Services, three players in the merchant processing solutions space.
“These acquisitions of these innovative payment companies are part of our growth strategy to offer a full suite of payment processing services to our current base of restaurants and any restaurant in the future,” Grimstad said. “Our goal is to be able to offer a suite of payment services to our ecosystem partners, including loyalty programs, gift cards, payment processing, and merchant lending. We view these acquisitions as an important step in pursuing this strategy and we believe this could lead to significant growth for Waitr in the future.”
ProMerchant, Flow Payments and Cape Cod Merchant Services guides small to mid-sized merchants in both retail and ecommerce industries in facilitating the entry into payment processing solutions focusing on small to mid-sized merchants. Some of the services offered are payment processing, gift card and loyalty programs.
Founded in 2013, Waitr operates an online ordering technology platform, providing delivery, carryout and dine-in options. Waitr, along with Bite Squad and Delivery Dudes, connect local restaurants and grocery stores to diners in underserved U.S. markets. As of June 30, 2021, Waitr, Bite Squad and Delivery Dudes operate in small and medium sized markets in the United States in over 900 cities.