Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

TouchBistro Raises $158 Million in Series E Funding Led by OMERS Growth Equity with Participation from Barclays Bank and Others

Funds will be used for acquisitions, global expansion, and to increase headcount

TouchBistro today announced that it has raised CDN$158 million in Series E funding. The round 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 by TouchBistro 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.

More than 16,000 restaurants in over 100 countries use the award-winning TouchBistro iPad POS and payments solution. Built from the ground up to work as the heart of a restaurant’s operations, TouchBistro processes more than US$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. TouchBistro helps restaurants drive top line revenue growth, improve their operational efficiency, and make better decisions through software automation, predictive data insights, and seamless access to financial services.

“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 of 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.”

This quarter, TouchBistro announced partnerships with Barclaycard in the UK 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.

“We are particularly proud to be working with OMERS, a great partner for TouchBistro, because it has the unique ability to invest in companies at all stages of the growth lifecycle – from our earlier stage of development, through to the period of rapid growth we are entering, and beyond. The timing could not be better to invest even more aggressively in scaling our business,” says Barrotti. “We are at an inflection point with our annual growth rate accelerating close to 100 percent by gaining share of wallet per customer, going up market to more lucrative customers, and expanding into international markets. At least half of all new restaurants that open in Toronto use TouchBistro and we are confident we can achieve that level of success in other cities all over the world.”

“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.”

OMERS Growth Equity invests in high-growth companies backed by exceptional teams. OMERS Growth Equity is a long-term investor, focused on supporting companies to pursue all types of growth opportunities. These growth opportunities could include scaling operations, making acquisitions, expanding product lines, or entering new markets. As part of this transaction, Shulgan will join the TouchBistro Board of Directors.

“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. “We invest in and partner with the best and brightest entrepreneurs in tech to build a prosperous future. Alex Barrotti and TouchBistro have proven to be a perfect fit in our portfolio.”

Barclaycard, working in partnership with Barclays Principal Investments, participated in this funding round. “We were impressed by the scalability of the business and the vision of the founding team to drive and build a larger business around the evolving restaurant and dining space,” says Kester Keating, Head of US Investments at Barclays.

“We recently teamed up with TouchBistro to provide integrated payments to restaurants and pubs in the UK. Through this partnership we anticipate expanded commercial opportunities and distribution across Europe, and improved access to financial services for the restaurant market,” says Rob Cameron, CEO, Global Payments Acceptance at Barclays. “Our equity investment reaffirms our commitment to working with TouchBistro and our belief that the company is very well positioned to capture the opportunities that lie ahead.”

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 83,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

About TouchBistro
TouchBistro is an iPad POS and integrated payments solution built for restaurant people, by restaurant people – with every feature designed to meet the unique needs and fast pace of the foodservice industry. TouchBistro deployed over 16,000 restaurants in more than 100 countries worldwide. It helps restaurateurs run better businesses and makes managing a restaurant easier. TouchBistro is an award-winning POS backed by in-depth training and free 24/7 technical support provided by POS specialists who have also worked in the restaurant industry. With offices in Toronto, New York, Austin, Chicago, London, and Mexico City, TouchBistro is a global POS leader and is changing the way restaurateurs run their businesses.


Lisez gratuitement le quotidien Finyear & sa newsletter quotidienne.
Recevez chaque matin par mail la newsletter Finyear, une sélection quotidienne des meilleures infos et expertises en finance digitale, corporate finance & crypto finance.

Read for free The daily newspaper Finyear & its daily newsletter.
Receive the Finyear's newsletter every morning by email, a daily snapshot of the best news and expertise in digital finance, corporate finance & crypto finance.


Chaineum :
Fondée en 2015, Chaineum est un cabinet de conseil en opérations de haut de bilan offrant une expertise de premier plan en matière d’ICO et STO, avec une vision stratégique orientée tant vers le métier de ses clients que sur la technologie blockchain. A ce titre, Chaineum a participé à la mise en œuvre de bonnes pratiques dans le secteur (ICO Charter, Security Token Network).
La division services blockchain de Chaineum, développe la technologie Chaineum Segment, une blockchain privée orientée objets.

About Chaineum:
Founded in 2015, Chaineum is a leading corporate finance advisory firm with a strong expertise in ICO and STO, and a strategic focus on both its clients' business and blockchain technology. As such, Chaineum paved the way in the implementation of certain best practices in this sector (ICO Charter, Security Token Network).
Chaineum's blockchain services division, is developing Chaineum Segment technology, an object-oriented private blockchain.


No Offer, Solicitation, Investment Advice, or Recommendations

This website is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by FINYEAR.
No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security.
Nothing on this website shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction.
Nothing contained on the website constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed on this website should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this website, we have not taken into account the investment needs, objectives and financial circumstances of any particular investor.
This information has no regard to the specific investment objectives, financial situation and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors.
Any views expressed on this website by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change.
All information is subject to possible correction. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.

Jeudi 19 Septembre 2019