Vend POS funding
Breaking News from down under - Vend POS Gets Additional VC funding!
We received this exciting news of additional funding from Vend early this morning!
"We have raised NZD$12 million, mainly from existing investors, with the notable addition of Punakaiki Fund to our shareholder register. It joins Point Nine Capital, Peter Thiel’s Valar Ventures, Square Peg Capital, Rowan Simpson and Sam Morgan - some of the world’s leading SaaS investors.This funding allows the company to continue our growth and taking our product to the vast number of retailers in our largest markets. We achieved 1100% revenue growth in our first three years, 100% in our last financial year, and the rapid growth is continuing. To continue our international expansion, we recently made the decision to invest more in our key markets of North America, Australia and UK, which meant reductions in other parts of the business, including some redundancies in New Zealand and consolidating our Berlin office into London. We have 85% of our customers offshore, however the majority of our headcount growth has been in New Zealand. Focusing more on the US and our other key markets will put us closer to our customers and strategic partners, such as Apple, Mercury and PayPal.This funding comes on the back of a great run of results for us. We’ve just had our two best ever revenue months, we’ve won a Gold American Business Award for Customer Service, we’re working with Apple to market Vend on iPad to retailers around the world, and we have a revamped product including ecommerce. We’re seeing continued traction globally, and we’ve launched partnerships with payments processors in the key markets of America, Canada and the United Kingdom.”
"We have raised NZD$12 million, mainly from existing investors, with the notable addition of Punakaiki Fund to our shareholder register. It joins Point Nine Capital, Peter Thiel’s Valar Ventures, Square Peg Capital, Rowan Simpson and Sam Morgan - some of the world’s leading SaaS investors.This funding allows the company to continue our growth and taking our product to the vast number of retailers in our largest markets. We achieved 1100% revenue growth in our first three years, 100% in our last financial year, and the rapid growth is continuing. To continue our international expansion, we recently made the decision to invest more in our key markets of North America, Australia and UK, which meant reductions in other parts of the business, including some redundancies in New Zealand and consolidating our Berlin office into London. We have 85% of our customers offshore, however the majority of our headcount growth has been in New Zealand. Focusing more on the US and our other key markets will put us closer to our customers and strategic partners, such as Apple, Mercury and PayPal.This funding comes on the back of a great run of results for us. We’ve just had our two best ever revenue months, we’ve won a Gold American Business Award for Customer Service, we’re working with Apple to market Vend on iPad to retailers around the world, and we have a revamped product including ecommerce. We’re seeing continued traction globally, and we’ve launched partnerships with payments processors in the key markets of America, Canada and the United Kingdom.”
