Pacto, a Mexican startup that provides a point-of-sale (PoS) platform with integrated payments for restaurants and bars, has raised $4 million in seed funding. The funding round was led by DILA Capital, a Mexican venture capital firm that invests in technology-driven early-stage companies in Mexico and Latin America.
Founded in 2021 by Ryan Croft, Gordon Whitehouse, and Rodrigo Kuri, Pacto operates on a Software as a Service (SaaS) model. Its cloud-based software provides a range of payment options to enable restaurants and bars to manage their operations efficiently, grow their revenue and tips, and make digital tools accessible to the country's restaurant industry.
Pacto aims to create an easy-to-use, reliable, and affordable PoS system for small and medium-sized businesses in Latin America. The company plans to use the new funding to strengthen its team, grow its client base in the coming months, and develop market-leading products to win the Mexican point-of-sale market for the restaurant industry.
The funding round witnessed participation from several venture capital funds, including FEMSA Ventures, 500 Global, August Hill, Polymath Ventures, Grupo Fame (Mexico), the Georgetown Angel Investor Network, and several angel investors.
This funding brings Pacto's total financing to $6 million, following a $2 million pre-seed round in April 2022. The startup is 20 months old and is well-positioned to continue its growth trajectory and increase its reach across Latin America.
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