MONTRÉAL (BRAIN) — Lightspeed POS Inc. has closed a $166 million Series D investment led by Caisse de dépôt et placement du Québec, with participation from Investissement Québec, iNovia Capital and a credit line from Silicon Valley Bank.
The investment brings the total amount invested to $292 million.
Lightspeed said it remains focused on providing POS technology solutions for retail and restaurant businesses. The additional investment supports further innovation and global expansion, it said.
"The retail and restaurant industries now require businesses to deliver a greater and more unique experience to thrive," said Dax Dasilva, the founder and CEO of Lightspeed. "Lightspeed is leading the digital transformation with our powerful, easy-to-use platform, which enables your favorite local businesses to increase revenue, continue to innovate, and ultimately deliver an extraordinary shopping or dining experience."
"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, the executive vice president 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."
The company now operates in more than 100 countries, in multiple languages and currencies, and processes over $15 billion in transactions annually. It has nearly 50,000 customers on its platform
