Lightspeed POS has closed a $166m Series D investment round led by Caisse de d?p?t et placement du Qu?bec.
La Caisse contributed $136m to the funding round, which also saw contributions from Investissement Qu?bec, iNovia Capital and a credit line from Silicon Valley Bank.
Canada-based Lightspeed is a point-of-sale solution for independent businesses, in-store and online applications. The platform is used be 50,000 retailers and restaurateurs, and helps process more than $15bn transactions annually, according to the company.
Some of the brands using the platform include Todd Snyder, Want Les Essentiels, DASH, Draper James and Rocket Fizz, among others.
This round of funding will be used to help support the innovation of its retail and mobile restaurant solutions, as well as global expansion.
Qu?bec at la Caisse executive vice-president Christian Dub? said, “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.”
Following the new investment, total capital raised by Lightspeed has reached $292m, with the company closing a $61m round in 2015, to help support its retail and restaurant solutions.
Earlier this month, La Caisse partnered with Desjardins to launch a FinTech-focused fund which is looking to raise around $75m.
The firm also took part in the co-investment alongside Novacap into Pivotal, in an investment which valued the company at around $430m.
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