laddition

French fintech startup L’Addition has completed a round of €5 million. The investment came from Galia Gestion and CM CIC Capital Privé.

L’Addition publishes an iPad app which restauranteurs can use to manage their orders and keep contact with their clients. So far, the company has 2,500 customers and 9,000 users. Last year the company carried out €1 billion in transactions.

Internationally, the company faces competition in the market for payment solutions for merchants. One competitor is the American Square, which has developed a solution that allows merchants to accept credit card payments via a smartphone or tablet, along with the Swedish iZettle, which has designed an application to turn the iPad and iPhone into a cash register.

L’Addition intends to use the new investment to expand to 15 French cities by mid-2017. The company also plans to expand its workforce, recruiting at least 40 new employees this year.

Read more: French Web (French)

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