POS provider Lightspeed raises $61 million in new funding
Lightspeed said the financing will support the company's rapid global growth, technology infrastructure enhancements and deeper investment in its omnichannel offering.
Montreal-based POS platform provider Lightspeed this week announced $61 million in funding co-led by Caisse de dépôt et placement du Québec and Investissement Québec, alongside existing investors Accel Partners and iNovia Capital. This brings Lightspeed's total funding to date to $126 million, according to a press release.
Lightspeed said the financing will support the company's rapid global growth, technology infrastructure enhancements and deeper investment in its omnichannel offering. Currently more than 25,000 customers in over 100 countries use Lightspeed to build, manage and grow their stores and restaurants online and offline, according to the announcement. The company has seen 123 percent year-over-year growth and its customers now process over $10 billion annually.
"Today, our cloud platform processes more than 17,000 actions per minute. We are investing heavily in scaling our platform to support our rapidly growing and increasingly global user base as well as developing offline transaction capabilities," said Dax Dasilva, Lightspeed CEO and founder. "With omnichannel becoming increasingly important to our retailers and their customers, this funding will also further support the expansion and development of our e-commerce offering."