ShopKeep, a NYC-based tablet-to-cloud payments and point-of-sale platform, closed a $65m round of equity and debt financing.
The round was led by Tribeca Venture Partners, with participation from existing major investors as well as First Data Corporation and Salesforce Ventures. The debt financing portion of the round was provided by ORIX Growth Capital and Square 1 Bank, a division of Pacific Western Bank.
Led by Michael DeSimone, CEO, ShopKeep provides an iPad point-of-sale system with POS software that allows merchants to optimize staffing, manage inventory and access real-time sales reports and customer information on one cloud-based platform. The company, which also has offices in Portland (OR), Chicago (IL), and Belfast (NIR), currently serves over 25,000 independent retailers and restaurants.
The company plans to use the new capital to accelerate ongoing growth initiatives and to expand into additional business segments across a broader range of services and geography. Initiatives include expansion of its recently launched ShopKeep Capital service, which provides working capital funding for customers, extending the capabilities of its new Android-based platform, as well as the exploration of international markets.