CIBC Innovation Banking supplies credit facilities to Lightspeed

© Lightspeed 2019

Lightspeed POS (TSX: LSPD), a Montréal-based retail and restaurant point-of-sale and e-commerce solution, has entered into new credit facilities with CIBC Innovation Banking, the technology lending arm of CIBC.

The facilities include a US$25 million ($33 million) demand revolving operating credit facility and a US$30 million ($40 million) stand-by acquisition term loan.

They replace a prior US$15 million working capital line of credit provided by Silicon Valley Bank.

In March, Lightspeed closed its initial public offering (IPO) in Canada, raising $276 million. It continues to be backed by Caisse de dépôt et placement du QuébecInovia Capital and other pre-IPO investors.

(This post was updated to clarify the currency denomination of Lightspeed’s credit facilities.)


Lightspeed Announces Closing of New Credit Facilities with CIBC 

MONTREAL, April 2, 2019 /CNW Telbec/ – Lightspeed POS Inc. (“Lightspeed” or the “Company”) (TSX: LSPD) announced that, effective today, it has entered into new credit facilities with the Canadian Imperial Bank of Commerce (“CIBC”), which include a $25 million demand revolving operating credit facility (the “Revolver”) and a $30 million stand-by acquisition term loan (the “Acquisition Facility”, and together with the Revolver, the “New Credit Facilities”). The New Credit Facilities replace the previous $15 million working capital line of credit granted to the Company by Silicon Valley Bank. The Acquisition Facility will be available for draw up to 24 months and will mature 60 months after the initial drawdown under the Acquisition Facility. In its supplemented PREP prospectus dated March 7, 2019, Lightspeed disclosed that it entered into a non-binding term sheet with CIBC dated February 14, 2019 with respect to the New Credit Facilities.

About Lightspeed

Headquartered in Montréal, Canada, Lightspeed provides an easy-to-use, omni-channel commerce-enabling platform. The Company’s software platform provides its customers with the critical functionalities they need to engage with consumers, manage their operations, accept payments, and grow their business. Lightspeed operates globally in approximately 100 countries, empowering single- and multi-location small and medium-sized businesses to compete successfully in an omni-channel market environment by engaging with consumers across online, mobile, social, and physical channels. Founded in 2005, the Company has grown to approximately 700 employees, with global offices in Canada, the United States, Europe, and Australia.

For further information: Media Contact, Philip Koven, 647-496-7858,; Source: Bradley Grill, Director of Public Relations, Lightspeed,, 514.375.3155 x7980