Briefing

Lightspeed acquires Australian fintech Kounta for US$35.3 million

article-aa

The Montreal-based point-of-sale (POS) company announced the acquisition on Monday. Kounta, another POS provider, focuses on the hospitality industry and claims to have about 7,000 customers throughout Australia and New Zealand. (The Logic)

Read this article for free

By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

Already a subscriber?

Talking point: In May, my colleague Zane reported that Lightspeed was looking to increase its foothold in Australia and Europe following its $276-million March IPO. This is Lightspeed’s first Australian acquisition, and third overall, since its public launch. The company’s rapidly spreading client base is the key driver for its growth—it increased its revenue forecast to between $112 million and $115 million for 2020, following higher than expected revenues earlier in 2019. Tapping Kounta’s clients and Australian team will help expand Lightspeed’s reach through the Asia-Pacific.