Lightspeed POS reaches $10B in annual transaction volume

shutterstock_138508355Lightspeed POS, the commerce platform for serious retailers and restauranteurs, today announced its customers are now processing $10 billion (£6.4 billion) in annual transactions through the Lightspeed platform, outpacing worldwide industry competitors.

Lightspeed also expanded its customer base to 24,000 business locations across 100 countries. This growth, coupled with increasing transaction volume across its customer base – its average customer now processes more than $600,000 a year – helped the company achieve 123% year-over-year growth in bookings.

Consumers today move freely between in store and online channels, and across various screens and modes of payment. In response, retailers are investing in technologies that will help them not only more profitably manage their businesses, but also provide a better browsing and purchasing experience for shoppers. Sales staff using iPads are not only able to check people out, but also manage the business and support customers while shopping.

Dax Dasilva, founder and CEO of Lightspeed said: “Lightspeed’s focus on giving retailers and restauranteurs the tools that can not only help them survive, but thrive in this changing landscape is paying off – we are actually seeing our customers grow significantly faster than the market average.”

Lightspeed also unveiled its new 40,000 sq ft. headquarters in a legendary landmark space in Montreal, Gare Viger, a former railway station and hotel built in 1898.

Growth in restaurant business

Following a $35 million funding round last fall, Lightspeed launched its debut in a new market with Lightspeed Restaurant. The new product line is making strong contributions to the company’s momentum, with a 600% year over year growth in active restaurant locations. 

Overall momentum

A summary of Lightspeed’s 2014 momentum includes:

  • 123% year over year growth in bookings.
  • Lightspeed customers are now processing $10 billion (£6.4 billion) in annual transactions.
  • 52,000 registers in more than 100 countries.
  • 260% growth in Lightspeed Restaurant POS subscribers since launch in October 2014.
  • Increased number of employees to more than 300.