North American Bancard Buys Salido

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North American Bancard Buys Salido

09/10/2020

SALIDO has been acquired by North American Bancard (NAB), one of the largest electronic payment processors in the United States.

Since the acquisition, SALIDO has operated in stealth mode, strengthening its product team, focusing on product development, and introducing many key features. These features include tableside mobile ordering, NFC contactless payments, and direct online ordering. Additionally, SALIDO has launched integrations like Oracle OPERA to support the evolving needs of SALIDO’s hospitality operators during this challenging time.

SALIDO’s Restaurant OS, a cloud-based restaurant operating system, will help establish NAB’s portfolio as a leader in the enterprise hospitality software industry. NAB will vertically integrate SALIDO's Restaurant OS on top of their existing payments platform, EPX, to offer a single and powerful payment solution for all hospitality partners.

Founded in 2012, SALIDO’s eight years of successful growth were led by founder and CEO Shu Chowdhury, an engineer-turned-entrepreneur and hospitality-industry insider who worked carefully with NAB to facilitate the transition for both companies. SALIDO was created when Chowdhury saw an opportunity to reinvent antiquated restaurant point of sale and payments systems by changing both the in-store and above-store user experience for all operators.

Following his transitional leadership role at SALIDO and NAB, Chowdhury will focus his efforts on the Bowery Engine, an early stage direct investment and incubation company that previously supported SALIDO. Chowdhury will continue to support SALIDO as a strategic advisor to NAB founder and CEO Marc Gardner.

The majority of SALIDO's employees joined NAB following the acquisition to continue innovating the Restaurant OS. SALIDO continues to execute on its hiring plans to recruit and invest in talent across their Product, Engineering, Customer Experience, and Sales Teams.

SALIDO has been backed by hospitality operators including Phil Suarez, Top Chef Tom Colicchio and Stephen Starr as well as financial investors including FirstData Ventures, 500 StartUps, Accelerator Ventures, 3KVC and Great Oaks VC. SALIDO’s Restaurant OS has been adopted by top US-based and international hospitality operators, such as Eataly, Restoration Hardware, Eleven Madison Park, Laconda Verde, and Jean-George’s ABC Kitchen. NAB will operate SALIDO’s installations in New York, Chicago, Detroit, Boston, Philadelphia, Nashville, Baltimore, San Francisco, Los Angeles, Miami, Austin, Charleston, Toronto, and London.