Tiller raises €12 million to accelerate its internationalization and strengthen its team
Tiller, the French leader in cash registers and connected management, announces a €12 million Series B round of funding, with the option of deploying up to a further €8 million in the next 18 months to fund external growth (M & A). This round of funding was made by Ring Capital, accompanied by Cambon Partners. Also participating in this round were 360 Capital Partners, a previous investor, and Omnes Capital. This fundraising will allow Tiller to continue its conquest of the European market as well as its technological development.
Spanning 5,000 customers in more than 35 countries, Tiller offers a comprehensive management tool (order taking, cashing, real-time performance monitoring, integrated digital solutions marketplace) for merchants. With a team of nearly 150 people, offices in Paris, Barcelona and Milan, Tiller began its phase of hyper growth over a year ago and has now reached profitability.
Continuing its international development
The round of funding will allow the French firm to conquer a European market of more than 7.5 million traders, thanks to its "all-in-one” solution. Tiller is now leader in France and Spain and wants to strengthen its international presence by developing its local roots in Europe.
Supporting its technological development
This capital increase also enables Tiller to pursue its technological development, in particular through the recruitment of new positions to strengthen the teams in charge of creating and developing the various tools available on the Tiller marketplace.
In a digital ecosystem that is increasingly complex for merchants, Tiller is striving to become the merchant's digital partner by centralizing all the tools needed on a daily basis (payment services, reservation services or loyalty solutions). The round of funding will allow the development of new partnerships to offer merchants the most appropriate management tool for their establishment.
Dimitri Farber, Co-founder of Tiller, declares: “We are delighted with this fundraise which will enable us to strengthen our European leadership within the the market of merchant payment and management solutions. Our ambition is to support 30,000 merchants by 2020."
Geoffroy Bragadir, Co-founder of Ring Capital, adds: "For several years we have been following the very rapid deployment of Tiller’s solution in France and in Europe. Our investment comes at a very important step in accelerating Tiller’s development. Ring Capital aims to support these scaling up phases, so as to contribute towards the emergence of European leaders."
François Collet, Partner at 360 Capital Partner, explains: "We have been impressed by the quality of the team's execution since our entry two years ago, as well as by its ability to attract the best profiles to properly structure and manage its growth. We are delighted to be joined today in this great adventure by Ring Capital and Omnes Capital.”
For François-Xavier Dedde, Principal at Omnes Capital: “The digitization of trade is an underlying trend that has accelerated in recent years. Thanks to its innovative connected platform and marketplace, Tiller provides a complete solution for both merchants and their customers. Supporting Tiller is part of our strategy to strengthen our portfolio around this theme.”