The Mexican startup Covenanta point of sale (POS) platform with integrated payments for restaurants and bars based in Mexico City, announced the raising 4 million dollars in a round of financing led by the venture capital firm DILA Capital.
This capital raising also had the participation of FEMSA Ventures, 500 Global, August Hill, Polymath Ventures, and Georgetown Angel Investor Network. It also had angel investors such as Francis Medina of Grupo Fame and the president of Grupo Gigante, Ángel Losada.
“We are very excited to have the support of a diverse group of investors from Latin America and the United States, who share our vision of making digital tools more accessible and efficient for small merchants. This funding will allow us to accelerate our growth and continue to develop innovative products that help our customers grow their businesses,” said Ryan Croft, co-founder and CEO of Pacto.
What is Covenant?
This startup company was founded in 2021 by Ryan Croft, Rodrigo Kuri and Gordon Whitehouse. His vision was to create an easy-to-use, reliable, and affordable point-of-sale (POS) system for small and medium-sized businesses in Mexico. With its cloud-based software and a variety of payment options, Pacto helps restaurants and bars manage their operations, increase their revenue and tips.
Since its founding in 2021, Pact has raised a total of $6 million in investment to date, including a round pre-seed of 2 million dollars in April 2022.
Last October, the startup announced a strategic commercial and distribution alliance with Getnet México with the aim of strengthening its presence in the Mexican market and accelerating the growth of the platform efficiently.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.