Texas-based financial startup, Ghost Financial has announced plans to invest in the growing sector of “ghost kitchens.” Ghost kitchens are restaurants created for the main purpose of serving customers through food delivery apps.
Ghost Financial has raised $2.5 million in investments from well-known investors including HOF Capital, 305 Ventures, Hustle Fund and Active Capital.
The company’s decision to invest in the sector involves equipping small businesses that run ghost kitchens with insurance, credit, credit cards, and other financial products.
John Meyer, chief executive of Ghost Financial, said that young companies in the industry often buy their inventory not with credit cards but with cash, checks or debit cards, limiting their growth.
“What seems to be missing is a very clear banking and financial layer to support the ghost kitchen industry,” Meyer said.
Ghost kitchens became very popular during the pandemic, as people around the world were forced to stay indoors. It rose to meet the demand for food supplies during the pandemic.
For more information, read the original story in Reuters.