TouchBistro, an iPad POS and integrated payments solution built for restaurant people, raised CDN$158m in Series E funding.
The round was led by Omers Growth Equity with participation from Barclays Bank, RBC Ventures, BMO Capital Partners, and existing investors including OMERS Ventures, JPMorgan Chase, Napier Park Financial Partners, BDC IT Venture Fund, and Kensington Capital Partners. As part of this transaction, Mark Shulgan, Managing Director and Head of OMERS Growth Equity, will join the TouchBistro Board of Directors.
The company intends to use the funds to:
– acquire complementary products that broaden its capabilities,
– support the development of technology advancements,
– expand its presence in international markets, and
– increase the size of its team over the next year.
Led by Alex Barrotti, CEO and founder, TouchBistro provides an iPad POS and integrated payments solution built for restaurateurs to streamline and simplify all aspects of running a restaurant – from order taking, payment processing, menu management, and accounting, to reporting, inventory management, staff scheduling, and customer loyalty.
The company, which has offices in Toronto, New York, Austin, Chicago, London, and Mexico City, deployed over 16,000 restaurants in more than 100 countries worldwide.
This quarter, TouchBistro announced partnerships with Barclaycard in the UK and EVO Payments in Mexico to provide integrated payment solutions. Last year, the company announced TouchBistro Payments powered by WePay, a JPMorgan Chase company, to streamline payment processing for restaurants in the US.