PayFacto Payments Inc., a Montreal, Canada-based provider of payment solutions and point-of-sale technologies, received an equity investment of up to C$150m.
The round was led by private equity firm Flexpoint Ford with participation from BMO Capital Partners.
The company intends to use the funds to finance its expansion in the U.S. market, leveraging its acquiring bank partnership with Community Federal Savings Bank. The investment follows PayFacto’s acquisition of the Maitre’D and Veloce point-of-sale (“POS”) software systems and will accelerate the company’s growth strategy including further enhancing its suite of payment products, launching a new cloud-based point-of-sale system, and funding future acquisitions.
Led by Martin Leroux, President and CEO, PayFacto is a provider of fully integrated payment processing technologies and hospitality technology solutions for over 30,000 merchants in Canada, the U.S., and the UK. Its solutions include VelPay, an all-in-one integrated payment and POS solution. With its own proprietary payment gateway and SaaS point-of-sale technology, the company offers a suite of integrated payment and POS solutions supported locally through its extensive network of hundreds of distributors and resellers.
It is headquartered in Montreal with operations in Canada, the United States, and the United Kingdom.