Montreal’s Lightspeed POS has closed a $166 million USD Series D round.
Led by Caisse de dépôt et placement du Québec with an investment of $136 million USD, the round also included Investissement Québec (IQ), iNovia Capital and Silicon Valley Bank.
Lightspeed has raised $292 USD million to date for their POS technology solutions that power retail and restaurant businesses.
This Series D round will support further innovation of its fully-integrated omnichannel retail and mobile restaurant solutions, as well as support the company’s global expansion plans.
“The retail and restaurant industries now require businesses to deliver a greater and more unique experience to thrive,” says Dax Dasilva, Founder and CEO of Lightspeed.
“Lightspeed is leading the digital transformation with our powerful, easy-to-use platform, which enables your favourite local businesses to increase revenue, continue to innovate, and ultimately deliver an extraordinary shopping or dining experience.”
Lightspeed POS now serves nearly 50,000 customers, operates in more than 100 countries, in multiple languages and currencies, and processes over $15 billion USD in transactions annually.
“Two years ago, when we first invested in Lightspeed, the company was already considered a Canadian leader in its field. Today, its solutions are used in more than 100 countries and Lightspeed is the world’s largest company in its sector. This success is due to the impressive innovations that it implemented and the strategic vision of its experienced management team,” said Christian Dubé, Executive Vice-President, Québec at la Caisse.
“This investment is part of our commitment to provide long-term support to Québec’s new-economy companies as they grow internationally.”