PayFacto Payments Inc. (“PayFacto”), a leading payment solution provider, today announces the completion of the acquisition of Posera Ltd. (“Posera”), and Resto Finances Inc. (“Resto Finances”). With these acquisitions, PayFacto moves into a payments and technology leadership position in the hospitality industry across North America, Europe and the UK.
PayFacto acquired Posera, including its suite of software technologies – Maitre’D POS, KDS (kitchen management system), and SecureTablePay (pay-at-the-table solution), as well as Resto Finances, including its flagship Veloce POS system. These technologies power tens of thousands of hospitality establishments, from small neighbourhood restaurants to large global restaurant chains, as well as hotels and resorts around the world. Combined, the acquisitions demonstrate PayFacto’s commitment to become one of the world’s leading providers of payment and fitnech solutions to the hospitality industry.
“We are proud to bring together two of the top hospitality industry technology providers,” said Denis Robert, EVP Sales and Marketing at PayFacto. “Our complementary expertise creates an amazing opportunity to build on Maitre’D, Veloce, and KDS’ global market footprints to bring a complete technology and payments solution to existing and new restaurateurs and hoteliers. We are also excited to further broaden PayFacto’s reach by using SecureTablePay’s extensive POS integrations to partner with many other ISVs, VARs and resellers to provide combined POS and payments solutions.”
“We heard the strong call for integrated payments in our industry, and we are delighted to partner with PayFacto, given its impressive track record of growth,” said Danny Roy, Founder and CEO of Resto Finances. “This collaboration between PayFacto, Posera, and ourselves means that our merchants are the main beneficiaries of all resulting innovations, ultimately enabling them to reach their full potential.”
“PayFacto, Resto Finances and Posera all share a common culture, a common passion for technology, and a common mission to empower hospitality businesses,” said Akash Sahai, Executive Director of Posera. “We are thrilled to partner with PayFacto and Resto Finances, who are so well aligned with our own and our channel partners’ vision of providing advanced payment and technology solutions to our customers worldwide.”
“PayFacto’s vision is to bring best-in-class, complete solutions to the hospitality industry, and the stars have aligned to bring together a perfect union of experience, innovation, and talent,” said Martin Leroux, Founder and CEO of PayFacto. “PayFacto will continue to execute on further investments to drive hospitality business operations forward with powerful global hospitality management technologies. PayFacto is committed to being the best payment and technology partner with the hospitality industry and everywhere food and beverages are sold.”
PayFacto has been assisted in these acquisition transactions by financing from BMO Financial Group and has benefitted from the support of BCF who acted as corporate legal advisors, and Hardy, Normand & Associés, who acted as financial advisors.