German POS solution provider orderbird has raised close to $23 million in a Series C funding round, the company announced.
The investment round, which was led by Digital+ Partners and METRO GROUP, also saw participation from previous investor Concardis, the European payment service provider.
Orderbird said the strategic investment from its leading investors positions it better to command stronger dominance in the market. With investment from METRO GROUP, an international retailer whose self-service wholesale segment METRO Cash & Carry serves 21 million customers in 25 countries, the company is expected to spread across the European market much faster.
“This investment in orderbird is an important step to help our customers take further advantage of digital solutions. Our industry knowledge, as well as our access to customers, is what we bring to the table," said Olaf Koch, CEO of METRO AG.
The Berlin-based company said it plans on using the funds to expand its presence to France and other parts of Europe this year and developing new products for the market.
“We will transform the cash register to be the heart of a business — from point of sale to point of service for guests and restaurant owners and caterers,” said Marcus W. Mosen, CEO of Concardis, on the investment in orderbird.
“The digital life of clients today has different expectations of what a local POS can do. The connection of payment, customer communication with additional value, smart interactions and elaborate data analysis is what’s expected today,” he added.
The latest investment in orderbird comes at a time when the five-year-old startup is quickly onboarding new clients to its iPad-powered platform. Since its launch in 2011, the startup is now beginning to see over $1.14 billion in payments getting processed through 9,500 orderbird POS devices.