Pacto, a Mexico-based point-of-sale (POS) software and payments company, announced that it raised $4 million in seed funding, bringing its total raised to $6 million.
The round was led by DILA Capital, a Mexico-based venture capital firm, with participation from US and Mexico-based funds FEMSA Ventures, 500 Global, August Hill, as well as new investors Polymath Ventures (Colombia), Grupo Fame (Mexico), the Georgetown Angel Investor Network, and angel investors with deep restaurant and hospitality tech experience.
"We're thrilled to have the support of a deep group of investors across Latin America and the US who share our vision for making digital tools more accessible and efficient for small merchants," said Ryan Croft, co-founder, and CEO of Pacto.
"This funding will allow us to accelerate our growth and continue to develop market-leading products that help our merchants grow their business." “With this new funding, we plan to win the Mexican point of sale market for the restaurant industry,“ said Rodrigo Kuri, Pacto co-founder.
Pacto offers a point-of-sale (POS) platform with integrated payments tailored to restaurants and bars. With its cloud-based software and a range of payment options, Pacto is helping restaurants and bars manage their operations and grow their revenue and tips.
Company: Pacto, Inc.
Raised: $4.0M
Round: Seed Round
Funding Month: March 2023
Lead Investors: DILA Capital
Additional Investors: FEMSA Ventures, 500 Global, August Hill, Polymath Ventures, Grupo Fame, and Georgetown Angel Investor Network
Company Website: https://www.pacto.co/
Software Category: Point of Sale (POS) Software and Payments Platform
About the Company: Pacto is a point-of-sale (POS) software and payments company dedicated to making digital commerce accessible for the merchants of Latin America. Pacto builds tools and technology to empower merchants to move beyond cash payments and accelerate growth in their digital business. Pacto was founded in 2021 by experienced entrepreneurs Rodrigo Kuri, Gordon Whitehouse, and Ryan Croft with a vision to create an easy-to-use, reliable, and affordable point of sale (POS) system for small and medium-sized businesses in Mexico. Headquartered in the US, Pacto has an office in Mexico City.
Source: https://www.paymentsdive.com/press-release/20230328-pacto-closes-us4-million-seed-funding-to-grow-restaurant-point-of-sale-and/