Global e-commerce software provider Lightspeed POS has raised $166m, the largest amount ever raised in a venture funding round by a Canadian start-up, according to the firm. The series D round was led by Square and Shopify et placement du Québec, and is set to precede Lightspeed's initial public offering, scheduled to take place in between 18 and 20 months. CEO Dax Dasilva said the funding would be used to build the company's own payment processing infrastructure, a service currently provided by Vantiv and Cayan.
Global e-commerce software provider Lightspeed POS has raised $166m, the largest amount ever raised in a venture funding round by a Canadian start-up, according to the firm. The series D round was led by Caisse de dépôt et placement du Québec, and is set to precede Lightspeed's initial public offering, scheduled to take place in between 18 and 20 months. CEO Dax Dasilva said the funding would be used to build the company's own payment processing infrastructure, a service currently provided by Vantiv and Cayan.