By Colin Kellaher


TouchBistro Inc., which provides iPad-based point-of-sale technology to restaurants, on Wednesday said it raised 158 million Canadian dollars (US$119 million) in a Series E funding at an undisclosed valuation.

The round, which was led by existing investor Omers, brings TouchBistro's total funding to C$275 million.

Canadian pension fund Omers said it invested C$85 million in TouchBistro in the funding round.

New investors Barclays Bank, RBC Ventures and BMO Capital Partners also participated, along with existing investors JPMorgan Chase & Co. (JPM), Napier Park Financial Partners, BDC IT Venture Fund and Kensington Capital Partners.

TouchBistro, founded in 2010, said it will use the funding to acquire complementary products, develop new technologies and expand its presence in international markets.

The Toronto-based company said more than 16,000 restaurants in over 100 countries use its iPad POS and payments solution.


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(END) Dow Jones Newswires

September 18, 2019 12:20 ET (16:20 GMT)

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