CIBC Innovation Banking supplies credit facilities to Lightspeed
Lightspeed POS (TSX: LSPD), a Montréal-based retail and restaurant point-of-sale and e-commerce solution, has entered into new credit facilities with CIBC Innovation Banking, the technology lending arm of CIBC. The facilities include a US$25 million ($33 million) demand revolving operating credit facility and a US$30 million ($40 million) stand-by acquisition term loan. They replace a prior US$15 million working capital line of credit provided by Silicon Valley Bank. In March, Lightspeed closed its initial public offering (IPO) in Canada, raising $276 million. It continues to be backed by Caisse de dépôt et placement du Québec, Inovia Capital and other pre-IPO investors.
2 April 2019•2 mins read
