Canadian company acquires iKentoo


iKentoo, offering iPad-based POS systems has been acquired by the Canadian company Lightspeed POS Inc. The company, which raised a total of CHF6.8 million in 2017 will continue its development to serve its more than 3800 existing customers.


In 2011, iKentoo incorporated as a startup in Geneva to provide iPad-based point-of-sale (POS) and enterprise management software for the restaurant and hospitality industries. The technology empowers restaurateurs to streamline their operations and manage their business more efficiently. By 2017, the startup had already attracted over 3800 customers 14 countries. In Switzerland, the company has recently equipped all hotels owned by the Victoria-Jungfrau Collection (Crans Ambassador, Eden Au Lac, Bellevue Palace in Bern, Victoria Jungfrau Grand Hotel) and the Sandoz Foundation (Beau-Rivage Palace, Hotel Palafitte, Lausanne Palace), as well as the Montreux Jazz festival (150 POS systems). The company also serves customers in France and South Africa. Having raised total investment of CHF 6.8 million,  iKentoo has now announced its exit following the acquisition by the Montreal-based Lightspeed POS Inc., the provider cloud-based POS software for small and medium-sized retailers and restaurants as part of its European expansion into France and Switzerland. Lightspeed equips over 49,000 customer locations in the retail and restaurant industry, as well as in the eCommerce industry. Details of the acquisition deal remain undisclosed While the company’s headquarters in Geneva become a part of Lightspeed, the startup team comprising 44 employees located in 4 offices (Geneva, Zürich, Lausanne and Paris) will further develop its products in pursuit of facilitating and streamlining restaurants and hotels’ management operations around the world. “Lightspeed and iKentoo’s common goal is to facilitate and streamline restaurants and hotels’ management operations around the world. Together with Lightspeed, we want to renew the promise made to all our customers by continuing to develop new features for the iKentoo POS and Back-Office”, as stated by the startup. (RAN)