Qvantea Capital invests in leading mPOS payments provider Ancon
Qvantea Capital invests in Ancon, a leading provider of mobile point-of-sale (mPOS) solutions in the Swedish market, in a Series A growth financing round. Simon M. Lidén, Partner at Qvantea Capital, will join the board of directors of Ancon alongside industry advisor Johan Bendz, former founding member and CMO of iZettle. Ancon plans to use the money for product development and further expansion in the Nordic countries.
Qvantea Capital will help Ancon further expand its market-leading position as a tablet-based POS. “We are very excited to share our expertise in executing ambitious growth strategies for SaaS companies with Ancon," said Simon M. Lidén, Founding Partner at Qvantea Capital. "Ancon's technology, exceptionally strong team, growth plan, and vision convinced us to invest in what we believe to be tomorrow's Nordic market leader."
Ancon has been providing digital POS systems for the hospitality industry for many years and these systems offer comprehensive features such as mobile ordering, real-time data analytics, cashless payment acceptance, and accounting-enabled reporting. Digitization at the point of sale (POS) is a big trend in the hospitality industry, and Ancon's systems are perfect for restaurateurs and caterers. “Ancon's POS systems already record billions in transactions every year.”, Simon continues.
The involvement of Johan Bendz, a seasoned B2B software entrepreneur with experience as a founding member and CMO at iZettle until its acquisition by Paypal and as Chairman of SaaS star June, underscores the company's focus on leading cloud transformation in the hospitality industry. The new board will set to accelerate Ancon’s trajectory to transform the cash register into the heart of a business - from point of sale to point of service for guests, restaurant owners, and restaurateurs. Simon explains: “Today's digital customers have different expectations for what a local POS can offer. Connected payment, value-added customer communications, intelligent interactions, and sophisticated data analytics are what is expected today.”