Platform Aims to Simplify Payment Processes Helping Restaurants Improve Cash Flow
MarginEdge announces the appointment of Kevin O’Nell as Senior Vice President of Payments, overseeing data integration and payment processes for the leading restaurant management platform. The growing startup has raised over $15 million in funding and provides smart technology to assist restaurants with financial and operations management. Currently, MarginEdge serves over 1,500 independent restaurant clients in 45 states.
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“Kevin comes to MarginEdge with an incredible record of leading digital payments in a number of verticals,” said Bo Davis, MarginEdge Founder & CEO. “Kevin’s deep experience, leadership and ability to innovate will enable us to further address our clients’ needs.”
In his new role, O’Nell brings nearly 20 years’ experience working in banking and fintech and will lead payment operations for MarginEdge.
“It’s an exciting time to join MarginEdge,” said O’Nell. “As a big believer in A/P and A/R automation, we are in a great position to help restaurants, vendors and banks work more effectively together.
Since the company’s inception, MarginEdge has processed over 2 million invoices and $2.5 billion in annual sales from their clients. Through digitization of back office bookkeeping, the platform completely eliminates paper-based payment processes streamlining relationships between restaurant operators and their vendors.
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“Paper is quickly disappearing across all aspects of our lives and existing digital payment processes don’t fit together in a way that works well for restaurants or their vendors,” continued Davis. “MarginEdge solves that problem by allowing restaurants to better manage their payment processes through consolidation of vendor receipts, payroll, and more. We are so excited to have Kevin join our team as he’s the best person to lead and grow this effort as we continue to build and create value for our restaurant clients, especially during these trying times.”
O’Nell joins MarginEdge after initially investing in the company while serving as an Entrepreneur in Residence at Osage Venture Partners. He previously served as Senior Vice President of Commercial Banking Business Development & Payments for Key Bank as well as the CEO of PeopleLinx, which under his leadership, was successfully acquired by FRONTLINE in 2017. O’Nell additionally co-founded the B2B tech-focused venture capital firm MissionOG in 2011 after spending eight years serving as COO at Ecount, pre- and post-acquisition by Citibank.
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