Peter Thiel’s Valar Ventures co-leads $20m Vend Series B round


news_cashbox_lrgPaypal co-founder Peter Thiel’s Valar Ventures has led a $20m Series B round for online point of sale software business Vend alongside Square Peg Capital.

New Zealand-headquartered Vend said the new funds would be used to expand its fast-growing channel of reseller partners and build their list of industry partners, which already includes PayPal, Xero and Stitchlabs.

Thiel said, “The best tech companies are those that enable you to do more with less.

“Vend’s powerful software is poised to enable millions of small and medium-sized businesses to focus less on paperwork and more on bringing better products and services to their customers.”

Square Peg Capital’s Barry Brott added, “We’re proud to continue supporting the team at Vend.

“Vend is adding value for retailers around the world by providing an outstanding product at an attractive price, combined with world class support.”

The company raised NZ$8m in May 2013 and NZ$3m between its first two capital rounds in 2011 and 2012.

In May 2012 PayPal announced that Vend had signed up as a global POS partner, allowing its retailers to accept PayPal in-store.

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