Lightspeed Leverages Financial Services and Expands Lightspeed Capital to U.S.


Posted: October 22, 2021 at 7:00 a.m. MDT|Update: 29 minutes ago

Lightspeed Capital Expands Into Hospitality and Retail Sectors, Increasing Number of Qualified Merchants Incorporating Recent Acquisitions

MONTREAL, QC, 22 October 2021 / PRNewswire / – Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop-shop commerce platform for traders around the world to simplify, adapt and create great customer experiences, announced today hui the expansion of its popular Lightspeed Capital program. . This expansion means the Lightspeed Capital program is now available to eligible US customers as well as newly integrated merchants from the Upserve, ShopKeep and Vend acquisitions. This latest expansion increases the share of Lightspeed’s merchant customer base to which supply is available by approximately 40%. Lightspeed currently plans to expand its offering to retail and hospitality customers in APAC by the end of 2021.

Lightspeed Capital (CNW Group / Lightspeed Commerce Inc.)

Independent businesses continue to face obstacles when trying to raise capital. The expansion of Lightspeed Capital provides quick access to funds, often as early as the next business day. Lightspeed Capital is an extension of Lightspeed Payments, and this expansion places Lightspeed in a timely position to expand into international markets where it has successfully launched Payments. Lightspeed also aims to accelerate the growth of its financial services to the supplier network (developed through its acquisition of NuOrder). This next step will allow Lightspeed to power and integrate even more key business needs from a single commerce solution.

“Local businesses are the backbone of our communities, and Lightspeed’s goal is to make owning a successful independent business easier than ever. We believe that real-time access to capital is one of the biggest challenges facing independent traders today, ”said Lightspeed Global Payments General Manager Jona Georgiou. “This expansion of Lightspeed Capital provides our merchants with a simple and streamlined opportunity to invest in their business. Our goal is to help energize their operations as the holiday shopping season approaches with a single, integrated commerce solution.

With economies reopening, it is crucial that independent traders have access to liquidity. Lightspeed Capital offers flexibility, providing cash when traders need it. As the company continues to integrate the products and customers of its recent M&A activity, Lightspeed Capital will continue to grow, providing a leg up for traders around the world.

Lightspeed Capital is offered transparently through the Lightspeed Commerce platform and can be used for any business related expense, such as new equipment, inventory, or personnel. Lightspeed Capital is not a loan, so the request does not affect the merchant’s credit. Merchants refund a set percentage of daily sales, so they pay more when sales volumes are higher and lower when things go down. The cost to a merchant never changes, no matter how long it takes to repay the cash advance.

“When I first heard of Lightspeed Capital, it sounded great: easy approval, low fees, easy repayment terms,” said Melissa Wilsman, owner of The Groom Room. “The money was in my checking account the next day. I couldn’t believe it. I was able to purchase new inventory which I had been on closing due to the possible lack of working capital. If I did. I need some more funds in the future, Lightspeed Capital will be my only reference. “

This sentiment was echoed by the owner of Aarf Pet Central Susan Leisure: “Lightspeed Capital has been fantastic for us. It has allowed us to have a significant inflow of funds to increase our inventory at strategic times during the year. We have also used it for more equipment purchases. We don’t have to worry about budgeting to make a monthly payment, and it’s so much more reasonable than other principal loans or credit cards. “

About Lightspeed
Powering the businesses that are the backbone of the global economy, Lightspeed’s one-stop commerce platform helps merchants innovate to simplify, scale, and deliver great customer experiences. Our cloud-based commerce solution transforms and unifies online and physical operations, multi-channel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montreal, Canada in 2005, Lightspeed traded on the New York Stock Exchange (NYSE: LSPD) and the Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in more than 100 countries.

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Forward-looking statements

This press release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are predictive in nature, depend on or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “has the” intention to “,” plan “,” estimate “,” estimate “or similar expressions concerning matters which are not historical facts. Such statements are based on the current expectations of Lightspeed management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors.A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this press release, including, between other factors, the risk factors identified in our most recent MD&A on Financial Position and Results of Operations, under “Risk Factors” in our most recent Annual Information Form, and in our other filings with Canadian securities regulators and the United States Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar .com and on EDGAR at Readers are urged to carefully consider these and other factors when making decisions about Lightspeed subordinate voting shares and not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are not guarantees of future performance and, although the forward-looking statements are based on certain assumptions that Lightspeed considers to be reasonable, actual events and results could differ materially from those expressed or under- understood by forward-looking statements made by Lightspeed. Except as expressly required by applicable law, Lightspeed assumes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

Media contacts:
Victoria Baker
[email protected]

Cydoney Curran
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Lightspeed press relations
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Logo: Lightspeed POS Inc. (CNW Group / Lightspeed Commerce Inc.)
Logo: Lightspeed POS Inc. (CNW Group / Lightspeed Commerce Inc.)

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SOURCE Lightspeed Commerce Inc.

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