Lightspeed POS, a Montréal-based point-of-sale software solution for retailers and restaurateurs, is gearing up for an initial public offering (IPO), according to a report by the Globe and Mail.
The company selected Bank of Montreal and National Bank of Canada to co-lead an IPO on the Toronto Stock Exchange, the report said.
Sources told the Globe and Mail that Lightspeed intends to raise at least $200 million and is hoping to achieve a valuation of more than $1 billion. The target date for the IPO is next spring.
Founded in 2005 by CEO Dax Dasilva, Lightspeed last year raised about $207 million (US$166 million) in a Series D financing.
Caisse de dépôt et placement du Québec led and was joined by Investissement Québec, iNovia Capital and Silicon Valley Bank.
Photo: Dax Dasilva, founder and CEO of Lightspeed POS Inc.