TouchBistro has closed a CDN$16.3 million Series C funding round led by Napier Park Financial Partners and Recruit Holdings, with participation from existing investors, including BDC IT Venture Fund, Relay Ventures, and Kensington Capital Partners. The cash will be used to enhance and expand the feature set in the TouchBistro iPad mobile restaurant mPOS solution, and to facilitate the company's expansion into global markets. TouchBistro's total funding now stands at CDN$45.3 million.
"We have experienced significant growth over the past year and plan to continue on this exciting trajectory," says Alex Barrotti, founder and CEO, TouchBistro. "Bringing together Napier Park, a FinTech payments expert, and Recruit, a restaurant behemoth, in this transaction together with our existing investors, positions us well to capture an even larger share of the emerging restaurant mPOS market."
"With its world-class technology and visionary leadership team, TouchBistro fits perfectly within our investment portfolio of innovative companies embarking on game-changing opportunities," says Mikihito Kawanami, Division Director at Recruit Holdings. "We are business builders at heart and appreciate TouchBistro's vision for restaurant success when their exceptional mobile platform functions as the heart of the restaurant's operations."
"We back best-in-class platforms with leading management teams, and welcome this opportunity to invest in Alex and the TouchBistro team," comments Daniel Kittredge Managing Director at Napier Park. "We have been highly impressed by TouchBistro's leadership team, product, and technology and believe they will continue to deliver a simple, secure, and sophisticated PoS solution to the restaurant market."