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Payments Co. SpotOn Transact Nabs $40M In Funding

Law360 (June 11, 2019, 5:47 PM EDT) -- San Francisco-based payments and software company SpotOn Transact on Tuesday said it raised $40 million in funding led by Franklin Templeton.

According to the company’s statement, San Francisco-based investment firm Dragoneer Investment Group also contributed significantly to the funding. This round of funding will be used to help the company expand into new markets, SpotOn said.

As part of those expansion efforts, SpotOn said it plans to continue growing its field sales team and anticipates adding another 100 employees to its restaurant business.

“SpotOn is redefining how [small- and medium-sized businesses] operate by offering tools previously only accessible to customers with...

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