Caisse de dépôt et placement du Québec is investing in Montreal-based Lightspeed POS Inc., a point-of-sale and e-commerce software solution for independent retailers and restaurateurs.
“Two years ago, when we first invested in Lightspeed, the company was already considered a Canadian leader in its field,” said Christian Dubé, executive vice-president for Quebec at the Caisse, in a press release. “Today, its solutions are used in more than 100 countries and Lightspeed is the world’s largest company in its sector. This success is due to the impressive innovations that it implemented and the strategic vision of its experienced management team.”
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Of the $207 million investment, the Caisse is bringing $170 million to the table, with other amounts coming from Investissement Quebec Inc., iNovia Capital and a credit line from Silicon Valley Bank.
The Caisse emphasized the growing global demand for the technology Lightspeed provides and noted that the investment will help boost innovation at the company, while allowing further expansion abroad. The company currently processes more than US $15 billion in transactions annually in more than 100 countries.
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