The Mexico-City based Startup Appoints Co-Founder Rodrigo Kuri as Board Member and Commercial Head to Lead Pacto’s Integrated Payments Vertical in Latin America.
MEXICO CITY, October 12, 2022: Pacto, a restaurant technology company, announced the launch of Pacto POS, an all-in-one, integrated point-of-sale with embedded payments for restaurants and bars in Mexico. This marks a significant product expansion to meet the full, all-in-one needs of a restaurant owner.
“After speaking to hundreds of restaurant owners in Mexico, it became clear that these merchants need immediate help to stabilize their business through cost reduction and sales growth. We set the goal to launch something truly all-in-one before the end of 2022. Pacto POS is that product and is now the gold standard for restaurant technology in Mexico,” said Pacto co-founder and CEO, Ryan Croft.
To connect the needs of restaurants with payments in Mexico, Pacto welcomed fintech industry veteran and former Citibanamex CEO Rodrigo Kuri to the founding team. Kuri brings two decades of executive experience in the financial sector with careers at Santander and Citibanamex specializing in expanding digital solutions for the bank.
“I left Citibanamex in September 2021 to start new life ventures, including a farm-to-table restaurant in Baja – a lifelong dream,” said Pacto co-founder Rodrigo Kuri. “As I became more familiar with the daily operations of running a restaurant, I was surprised how disjointed all the restaurant systems were. We started using the restaurant as an innovation lab to expand the platform beyond Order & Pay and I started to connect my fintech experience with this new venture,” said Kuri.
Pacto POS is focused on consolidating the technology needs of restaurants under a single interface and providing restaurants an end-to-end view of their business.
With Kuri’s experience in the restaurants, banking, and payments, Pacto has become an all-in-one restaurant operation solution with embedded payments. This builds upon their current mobile ordering platform which launched earlier and has shown favorable results with pilot merchants citing 19% increased order value and 50% increased tips.
“We are excited to announce our strategy to develop an integrated POS with embedded payments. This is a big step forward in our mission to make digital commerce accessible to the merchants of LatAm. Connecting payments with POS is common in many regions outside LatAm, and with Rodrigo on our team, we are confident we can deliver this for Mexico and use that model elsewhere.” said Gordon Whitehouse, Pacto’s co-founder and CTO.
Alongside these innovations and leadership announcements, Pacto has begun its seed round process to fuel expansion of its Mexico operations and starting new implementations and pilots across Latin America.
Pacto is a B2B payments and operating platform dedicated to making digital commerce accessible for the merchants of Latin America. Pacto builds tools and technology to empower merchants to move beyond cash payments and accelerate growth in their digital business. Headquartered in the US, Pacto has an office in Mexico City. Since launching in March 2022, the company has raised $2.6m USD backed by FEMSA Ventures, 500 Startups Latin America, Leap Global Partners, Kevin Carter, Lightspeed Venture Partners, First Check Ventures, and a group of individual investors from companies including Stripe, Airbnb, Uber, DoorDash, Capital One, and Google.
To learn more about Pacto visit pacto.co or follow on social media @PagaPacto.