Dutch e-commerce company SEOshop today announced it was acquired by the Canadian company Lightspeed POS for an undisclosed amount. SEOshop was backed twice in series A funding by the Dutch VC firm HenQ Invest.
SEOshop (founded in 2008) provides a Software-as-a-Service platform for companies to set up their online stores. Lightspeed POS (founded in 2005) is a company that offers both on- and offline tools and services for merchants, like points of sales and apps.
Some achievements of SEOshop so far: the platform offers over 150 core integrations for all payment providers and shopping networks in Europe such as Klarna and Paypal. It serves more than 8.000 online merchants, and since 2011, SEOshop has doubled revenue every year – delivering more than 1000 percent revenue growth from 2011 to 2014.
HenQ funding
In 2011, HenQ funded the company with a 500.000 euro series A investment. In 2013 they did the same with a 1,1 million euro investment. Ruud Stelder, CEO SEOshop: “HenQ has held up a mirror, offered its broad knowledge, network and made sure we had focus. This has also secured fast growth.”
With the acquisition, Lightspeed POS and SEOshop both can focus more on international expansion. “Bringing SEOshop into the Lightspeed family gives us additional opportunities to scale”, said Dax Dasilva, CEO of Lightspeed POS in a release.
Recently Lightspeed received 61 million dollar in series C funding to expand internationally and make further acquisitions. At least a big chunk of that money will go to SEOshop. Lightspeed has acquired two startups in the past so far.