Revel Systems raises $13.5m, valuation skyrockets to $500m

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Revel Systems, an iOS-based point-of-sale (POS) payment company, has gained nearly $14m in its latest Series C funding round. The firm now claims to be worth approximately $500m.

Using cloud-base technology, Revel specialise in offering small businesses a POS solution for the iPad, allowing merchants to accept contactless payments quickly and securely.

The funding round was led ROTH Capital Partners, bringing Revel’s Series C round to approximately $110 Million, with the firm proclaiming that its now worth in excess of $500m.

This was Revel’s C-3 investment round, with previous investors including Welsh, Carson, Anderson & Stowe and Intuit Inc.

Revel plan to use the latest investment to fund its global expansion and ‘‘to support large enterprise engagements within both existing and new verticals.’’ Currently Revel’s platform is operating within thousands of iPad’s across the United States and select locations internationally.

‘‘Given our accelerating organic growth in SMBs and enterprises and our strategic relationships with industry leaders like Intuit and Apple, we now have to prepare for growth that is beyond our earlier predictions,’’ stated Lisa Falzone, Revel co-founder and CEO.

‘‘We were not able to accommodate ROTH’s investment in the C-1 or C-2 rounds, but we are pleased that we could do it now. Investor interest has remained very strong at ever-increasing valuations, and while we cannot accommodate all investors, we are pleased to welcome ROTH to Revel now.’’

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