LightSpeed Closes $35M funding

LightSpeed Cloud Payment FundingLightSpeed, a Montreal, Canada-based commerce platform for retailers, closed a $35m funding.

The round was led by iNovia Capital, and previous investor Accel Partners.

The company, which has now raised $65m in total, intends to use the funds to continue to expand into new verticals and geographies.

Led by Dax Dasilva, CEO, LightSpeed provides retailers with a platform to build, manage and grow their business and to unify inventory, customer preferences, sales and analytics, in-store and online.
It is used in more than 20,000 stores in more than 30 countries (including Adidas, Harman, Leica, and DASH) processing over $7.5 billion in transactions annually.

Founded in 2005 and with offices in Montreal, New York City, Olympia, Ottawa, and Santa Cruz, LightSpeed is also announcing LightSpeed Payments, a new payments platform coming this fall in partnership with Element Payment Services, which will allow retailers to begin accepting credit and debit cards and access critical information about financials.



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