TouchBistro closes huge funding round
TouchBistro has raised CDN$158 million in a Series E round.
This was led by OMERS Growth Equity with participation from Barclays Bank, RBC Ventures, BMO Capital Partners, and existing investors including OMERS Ventures, JPMorgan Chase, Napier Park Financial Partners, BDC IT Venture Fund, and Kensington Capital Partners.
The funds will be used to acquire complementary products, support the development of technology advancements, expand the company’s presence in international markets, and increase the size of its team over the next year.
More than 16,000 restaurants in over 100 countries use the TouchBistro iPad PoS and payments solution and it processes more than US$11 billion annually. “The global restaurant industry is undergoing a technology renaissance, and TouchBistro is leading the way in driving the industry forward,” says Alex Barrotti, CEO and Founder, TouchBistro.
“We have teamed up with some of the largest financial institutions in key markets around the world to provide our customers with enriched payment services and easier access to financial services. We are proud of these strong partnerships and plan to build on this model as we expand our global footprint.”
“We invest in companies that we believe can grow to be the leaders in their sector. We are also passionate about growth, innovation, and making tomorrow better, three key areas that align with Alex Barrotti’s vision for TouchBistro,” says Mark Shulgan, Managing Director and Head of OMERS Growth Equity.
“Alex and his team have built a high-growth and durable global software business that has led the restaurant industry’s platform shift from legacy PoS to mobile and cloud.”