Ghost Financial, a financing provider for ghost kitchens and other restaurant ventures, announced it will be the exclusive financial partner for Cruising Kitchens, a mobile ghost kitchen builder and food truck fabricator based in Texas.
After completing a $2.5 million funding round and emerging from stealth mode earlier in 2022, the partnership is a significant milestone for the Austin-based foodservice financial provider. Through the deal, Ghost Financial will be providing up to $100M in financing, customized insurance and stand as the preferred card provider for Cruising Kitchens and its customers until 2025.
According to an official announcement, this partnership will enable major national QSR brands and franchise chains to leverage comprehensive financing options to expand into new markets, and boost off-premise sales. As its preferred card provider, Ghost Financial will also be providing national and regional Cruising Kitchens customers access to its cash-back rewards card, which is designed to increase operating margins by up to a claimed 10 percent.
“Today, two industry-leading business models in the multi-trillion-dollar food service space finally get married with the 9-figure and multi-year Cruising Kitchens and Ghost Financial partnership,” said Ghost FInancial CEO John Meyer. “We couldn’t be more excited for the size, scale, and impact of what’s to come.”
“Consistency, accuracy and speed are the critical components that make us the leaders in ghost kitchen/mobile fabrication,” says CEO of Cruising Kitchens, Cameron Davies. “Partnering with Ghost Financial (the financial backbone of a soon-to-be trillion-dollar ghost kitchen industry) will accelerate our operations and transform Cruising Kitchens into a titan in this space. This next wave of innovation is coming to the food/beverage industry and thanks to this new relationship, Cruising Kitchens will continue to lead the charge!”