Lightspeed POS Inc., a Montreal, Canada-based cloud-based point-of-sale software solution for independent retailers and restaurateurs, closed a US$166m (C$207m) series D funding round.
The round, which brings total amount to US $292m, was led by Caisse de dépôt et placement du Québec (la Caisse) with an investment of US $136m (CA $170m), with participation from Investissement Québec (IQ), iNovia Capital and a credit line from Silicon Valley Bank.
The company intends to use the funds to continue to expand its development efforts and expand globally.
Founded in 2005 by Dax Dasilva, CEO, Lightspeed provides cloud-based POS technology solutions for retail and restaurant businesses, in-store and online. Nearly 50,000 retailers including Todd Snyder, Want Les Essentiels, DASH, Draper James, Rocket Fizz, Malin+Goetz, Mike’s Bikes in California, and the Montréal Canadiens, and restaurateurs including Eataly, La Marina NYC, Nobu Malibu, Lutze Biergarten, Zoku Amsterdam Hotel, Hummus Bros, Crêpeaffaire, and Detroit Foundation Hotel, processing over US $15 billion in transactions annually use Lightspeed to grow and manage their business in more than 100 countries, in multiple languages and currencies.
Lightspeed has nearly 600 employees, with global offices in Canada, USA, Europe, and Australia.