19 Nov henQ backed company SEOshop acquired by Canadian Lightspeed POS
AMSTERDAM, 19 november 2015 – Amsterdam-based e-commerce platform SEOshop, part of the investment portfolio of Dutch venture capital firm henQ, announced its acquisition by Canadian software company Lightspeed POS today. The collaboration is an important step in the realization of the international ambitions of both companies. Over the last couple of years SEOshop has become one of the fastest growing e-commerce platforms in Europe.
“We are extremely thrilled by the acquisition by Lightspeed POS,” says Ruud Stelder, CEO of SEOshop. “This acquisition will enable retailers around the globe to reach out to customers wherever they are, both online and offline.”Lightspeed POS is the most powerful point of sale (POS) platform for stores and restaurants, and combined with SEOshop, will enable merchants to offer a unified in-store and online omnichannel customer experience.
As part of the deal, SEOshop CEO Ruud Stelder will join the Lightspeed leadership team as Director of Global e-commerce Revenue, and CTO Dennis Cuijpers will become Lightspeed’s Director of e-commerce Development and Architecture. “Bringing SEOshop into the Lightspeed family gives us additional opportunities to scale, and allows us to help store owners create a global shopping experience – no matter how their customers choose to shop,” said Dax Dasilva, CEO, Lightspeed POS.
SEOshop provides a Software-as-a-Service (SaaS) platform for companies to set up their online stores. The platform offers over 150 core integrations for all payment providers and shopping networks in Europe such as Klarna, Paypal and. The company currently serves more than 8,000 leading online merchants including Philips Lighting, Heineken, National Geographic Netherlands and the Van Gogh Museum. SEOshop has doubled revenue every year for the past three years, delivering more than 1000 percent revenue growth from 2011 to 2014.
A henQ backed company
Prior to this growth spurt, henQ invested in SEOshop. “From day one, it was clear that the guidance from henQ helped drive SEOshop into the incredible company it is today”, says Dave Sherry, CFO of Lightspeed. “On top of that, working with the henQ team was one of the most constructive, collaborative, and efficient deal processes I’ve ever seen.” For SEOshop, henQ was an early stage investor and sparring partner on the road to success. “henQ has held up a mirror, offered its broad knowledge, network and made sure we had focus”, says Stelder. “This has also secured fast growth.”
Thanks to its participation in startups like Mendix, Xite and Studytube, henQ has acquired knowledge and experience in building software solutions designed for Enterprise and SMEs. “Especially the latter is still an unexplored market, which is difficult to penetrate and where we can add a lot of value,” says Van Duiven. henQ recently announced the launch of its third fund, henQ III, with a record value of 50 million euro. The funds will be used to invest in promising software startups. “henQ is the only Dutch VC firm that dares to invest in early stage companies that are looking for seed investments from 100k upwards, and has the ability to continue to invest in next rounds up to 10 million euros.”