TouchBistro Lands $119M To Expand Restaurant POS Tech

Restaurant POS and payments firm TouchBistro has raised CDN $158 million (U.S. $119.24 million) in a Series E funding round led by OMERS Growth Equity, the company said in a press release on Wednesday (Sept. 18).

Barclays Bank, RBC Ventures and BMO Capital Partners also participated in the round, along with existing investors OMERS Ventures, JPMorgan Chase, Napier Park Financial Partners, BDC IT Venture Fund and Kensington Capital Partners.

TouchBistro will use the money for the acquisition of complementary services and expansion into more global markets.

“The global restaurant industry is undergoing a technology renaissance, and TouchBistro is leading the way in driving the industry forward,” said 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.”

The TouchBistro iPad POS and payments solution is deployed in 16,000-plus restaurants in over 100 countries and processes transactions worth more than CDN $14.6 billion (U.S. $11 billion). The platform is intended to facilitate every facet of restaurant operations.

“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,” noted Mark Shulgan, managing director and head of growth equity at OMERS. “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.”

TouchBistro has also teamed up with EVO Payments and Barclaycard this quarter, and last year rolled out TouchBistro Payments, which is powered by WePay.