Kensington Venture Fund is pleased to announce a new investment in TouchBistro as part of their $17 million Series B financing. The round was led by BDC IT Venture Fund with participation from new and investors Round13 Capital and Huff Capital, and existing investors Relay Ventures and Kensington Capital Partners.
Kensington has been pleased with TouchBistro’s growth and development of new partnerships, evolving from a pioneer in mobile point-of-sale (POS) segment to an industry leader.
In August 2016, TouchBistro announced its integration with Square, a global leader in mobile payment processing. This new partnership will allow TouchBistro’s customers to access all of the services that Square can offer including payment processing, accepting Apple Pay, depositing their money instantly, and accessing a loan through Square Capital. With the Square integration, bill totals are transferred automatically to Square for payment, thereby minimizing order errors, increasing operations efficiency, and improving the overall customer experience.
The integration with Square which was initially for US-based customers also represents TouchBistro’s growth into the US market. Since TouchBistro closed their Series A funding in April 2015, they have grown from the top-grossing food and beverage app in 33 countries to 37 countries. In addition, TouchBistro was named 2016 Best POS System for Restaurants by Business News Daily in its annual review of dozens of point-of-sale (POS) systems and International App of the Year 2015 by Best in Biz Awards.
Other notable partnerships include an integration with QuickBooks through accounting partners SHOGO and XERO, and online ordering partner JUST EAT.
For more information, please see TouchBistro’s press releases here.