TouchBistro raised $118.94m through Series E funding led by OMERS Growth Equity. Credit: Business Wire.

Canadian restaurant point-of-sale (POS) system TouchBistro has raised C$158m ($118.94m) through Series E funding, which was led by OMERS Growth Equity.

Other investors who participated in the funding round include Barclays Bank, RBC Ventures, BMO Capital Partners. The existing investors who participated in this round include OMERS Ventures, JPMorgan Chase, Napier Park Financial Partners, BDC IT Venture Fund, and Kensington Capital Partners.

In June, the Canadian firm raised C$72m ($54.2m) through Series D funding round, which was co-led by Omers Ventures and JPMorgan Chase.

The POS platform will use the latest funds to expand its presence in international markets, acquire complementary products, support the development of technology advancements, and increase its team size over the next year.

TouchBistro CEO and founder Alex Barrotti said: “The global restaurant industry is undergoing a technology renaissance and TouchBistro is leading the way in driving the industry forward.

“We have teamed up with some of the largest financial institutions in key markets around the world to provide our customers with enriched payment services and easier access to financial services.

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“We are proud of these strong partnerships and plan to build on this model as we expand our global footprint.”

TouchBistro currently offers POS and payments solutions to more than 16,000 restaurants in over 100 countries.

The company’s platform helps restaurants in managing order taking, payment processing, menu management, accounting, reporting, inventory management, staff scheduling, and customer loyalty operations.

Last month, TouchBistro partnered with credit card and payment services provider Barclaycard to integrate the payment solution with its POS platform.

In June, the POS firm partnered with EVO Payments México to integrate its iPad POS technology with the payment processing platform.