Newly funded startup LightSpeed acquires Belgium’s POSIOS

LightSpeed Retail Inc, which in September closed a $35 million financing, has acquired POSIOS, a Belgian mobile point-of-sale platform targeted to the hospitality industry. The financial terms of the deal were not disclosed. POSIOS joins LightSpeed as Lightspeed Restaurant, a cloud-based product offering to cafes, bars, nightclubs, fine dining and chain restaurants. POSIOS co-founder, Zhong Xu, will lead Lightspeed Restaurant’s strategy as the company’s director of hospitality. Based in Montréal, LightSpeed is a retail commerce platform. It is backed by Canadian venture capital firm iNovia Capital and U.S. firm Accel Partners.

Lightspeed Expands POS Offering to Restaurants

Company Launches Lightspeed Restaurant; Acquires Mobile Hospitality POS Company POSIOS

MONTREAL, Oct. 22, 2014 /CNW/ — Delivering on its commitment to expand into new geographies and markets, Lightspeed, the commerce platform for serious retailers, today announced its entry into the hospitality industry with the launch of Lightspeed Restaurant. Lightspeed, which now serves 21,000 businesses processing over $8.2B in sales annually, also announced that it acquired Belgium-based POS company POSIOS.

Lightspeed Restaurant, available immediately, is a new cloud-based product line offering cafes, bars, nightclubs, fine dining and chain restaurants the type of mobile point of sale, business management, and customer analytics technology that Lightspeed has been delivering to independent retailers for almost ten years.

“Lightspeed’s strength is in creating technology that improves business operations and enables superior customer experiences. Expanding into hospitality responds to the massive demand we have seen in the past two years for a restaurant solution from Lightspeed, and furthers our vision to bring sophisticated, yet accessible technology to all of Main Street,” said Dax Dasilva, Founder and CEO of Lightspeed. “The addition of the POSIOS team brings a deep understanding of the complex hospitality industry to Lightspeed Restaurant and further underscores our commitment to investing and expanding in Europe.”

Leading Lightspeed Restaurant’s product strategy is LightSpeed’s newly-appointed Director of Hospitality and POSIOS co-founder, Zhong Xu, who will work from Lightspeed’s new European development headquarters in Belgium. Lightspeed Retail and Lightspeed Restaurant will both operate under the Lightspeed POS umbrella, and will process transactions through the Lightspeed Payments platform announced in September.

Filling the Demand for Better Restaurant Management

Lightspeed Restaurant makes it easy for restaurateurs to get up and running on a flexible, low-cost system that can expand with their changing business needs. It offers tools for every part of the business, including:

Back of House

Single view of data, giving owners a single, anytime/anywhere view into sales and inventory across locations and with any device
Customer insights to personalize service and reward repeat customers
Instant menu updates, making it easy to update listings, images and prices across restaurants and websites, as well as communicate inventory
Advanced API’s allowing easy integrations to Accounting, ERP and other business applications

Front of House

Mobile tableside ordering, table-to-kitchen integrated workflow using an iPad, iPhone or iPod Touch
Visual menu with descriptions
Quick opening and closing of bar tabs, activated by a credit card swipe
Live visual floor management tools, to help manage seating and table status
Ability to reward customers, transforming them into brand ambassadors
Easily accept payments and split bills

About Lightspeed POS
Lightspeed provides retailers and restaurateurs the simplest way to build, manage, and grow their business and create a better customer experience. More than 21,000 businesses processing over $8.2 billion in transactions annually use Lightspeed’s mobile POS and commerce platform to manage inventory, customer preferences, sales, and analytics to get a complete view of their entire business in one place. Founded in 2005 with offices in Canada, USA, and Europe, Lightspeed is backed by Accel Partners and iNovia Capital. Visit us at

Media contact:
Sarah Spitz
Bateman Group

SOURCE Lightspeed

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