Venture-backed Velocity acquires Tab Payments

London, U.K.-based Velocity, a digital hospitality service, has bought Tab Payments Corp, a Canadian mobile payments app accepted at over 100 restaurants in Toronto and Montréal. The acquisition's value was not disclosed. Velocity, which connects guests with restaurant and nightlife experiences, said the deal expands its reach, which now includes restaurants in six cities in the United States, the United Kingdom and Canada. Earlier this year, Velocity raised US$16 million in a Series A financing. Its investors include Initial Capital Partner, Lerer Ventures, OATV, Spark Capital, and a number of angel investors.

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