SpotOn raises $60 million in series C funding

The new funding comes on the heels of US-, Mexico- and Poland-based SpotOn’s series B funding round in March and reflects the company’s rapid growth over the last six months

Software and payments company SpotOn Transact has raised $60 million in series C funding.

Internet investment firm DST Global led the funding round, with participation from existing investors including Dragoneer Investment Group and Franklin Templeton.

The new funding comes on the heels of US-, Mexico- and Poland-based SpotOn’s series B funding round in March and reflects the company’s rapid growth over the last six months.

Focused on small- and medium-sized retail, services and restaurant businesses, SpotOn offers products specifically designed for each vertical, such as appointments, ecommerce, online ordering and reservation management, as well as marketing, website development, omnichannel payments and point-of-sale solutions.

“We’re excited to partner with the SpotOn founders and management team in their vision of empowering small businesses by offering a suite of integrated payments and software products at low transparent prices,” said Rahul Mehta, managing partner at DST Global.

“We’re very impressed with their quality of execution, product cadence and customer centric approach in these unprecedented times.”

Matt Hyman, co-founder of SpotOn, welcomed DST Global onboard as a new investor. He said: “SpotOn is committed to small- and medium-sized businesses by providing them with the tools they need to thrive in any climate.”

“We will continue to create innovative products and further our go-to-market approach to ensure merchants nationwide have access to the tools they need to run their businesses. This fundraise, and partnering with a firm like DST Global, allows us to accelerate our pursuit of that goal.”

Image: SpotOn

Mark Dugdale