Touchbistro raises $119.24M to expand payments portfolio

https://www.mobilepaymentstoday.com/news/touchbistro-raises-11924m-to-expand-payments-portfolio/
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Touchbistro raises $119.24M to expand payments portfolio

Touchbistro, a provider of foodservice iPad and POS payment solutions, has raised CDN$158 million ($119.24 USD) in Series E funding in a round 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.

Touchbistro will use the funds to acquire complementary products that broaden the company’s capabilities, support the development of technology advancements, expand its presence in international markets and increase the size of its team over the next year, according to a press release. 

More than 16,000 restaurants in over 100 countries use the Touchbistro iPad POS and payments solution. Touchbistro processes more than $11 billion annually and is used to streamline and simplify all aspects of running a restaurant — from order taking, payment processing, menu management and accounting, to reporting, inventory management, staff scheduling and customer loyalty. 

This quarter, Touchbistro announced partnerships with Barclaycard in the U.K. and EVO Payments in Mexico to provide integrated payment solutions that streamline processes for restaurants, drive operational efficiency and reduce human errors associated with the bill-paying process. Last year, Touchbistro announced TouchBistro Payments powered by WePay, a JPMorgan Chase company, to streamline payment processing for restaurants in the US. 

“Last year we led Touchbistro’s Series D round. Since then, the company has exceeded our performance expectations and we are increasing our commitment by investing in this funding round,” says Damien Steel, managing partner and head of Omers Ventures. 

Photo courtesy of Touchbistro.


Topics: Financial News, Mobile Payments, POS, Restaurants, Venture Capital

Companies: TouchBistro


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https://www.mobilepaymentstoday.com/news/touchbistro-raises-11924m-to-expand-payments-portfolio/