TouchBistro will develop next-generation new payment solutions for restaurants. Credit: Brooke Cagle, Unsplash.

Canadian-based restaurant point-of-sale system TouchBistro has raised a Series D investment of C$72m, co-led by Omers Ventures and JPMorgan Chase.

The new round of funding brings the software company’s total funding to C$117m. Other investors who participated in the round include Napier Park Financial Partners, Recruit Holdings, BDC IT Venture Fund and Relay Ventures.

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The company will use the investment to develop a next-generation restaurant operating system and new payment solutions. It also aims to expand its presence in new and existing markets, planning to double the team size over the next year.

TouchBistro founder and CEO Alex Barrotti said: “I am proud to welcome our new partners – Omers Ventures, one of the largest pension funds in Canada, and JPMorgan Chase, the largest bank in the US.

“With this injection of capital, TouchBistro is incredibly well positioned to execute on our growth strategy.

“This fundraising will allow us to develop a whole new level of financial products and services integrations that greatly benefit both our restaurants and Chase customers alike.”

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As part of the deal, Omers Ventures managing partner Damien Steel will join TouchBistro’s board of directors.

Earlier this year, TouchBistro partnered with WePay to offer instant payment processing and integrated mobile payment devices to restaurant owners to process payments easily.

TouchBistro solutions allow restaurant operations to streamline orders, payment processing, menu management, accounting, reporting, inventory management and staff scheduling.