Leaf, a US-based technology company which manufactures a tablet specifically designed for commerce, as well as providing a mobile point-of-sale platform, has raised $20m in its first round of funding from Heartland Payment Systems, a US-based payments processor.
Leaf will use the funds to advance manufacturing capabilities of its tablet, the LeafPresenter, whose technology includes a magnetic stripe card reader, near field communication (NFC), Europay MasterCard Visa (EMV), and front- and rear-facing cameras. Leaf will also expand its team of developers and employees.
In addition to the investment, Heartland has joined Leaf’s network of distribution partners and will build apps on the Leaf platform – including payroll, and mobile and online ordering.
Aron Schwarzkopf, co-founder and chief executive officer (CEO) of Leaf, said: “While discussing a major distribution deal with Heartland, it became clear that we have much deeper synergies than simply selling together. Heartland is spearheading a new wave of innovation across the industry that aligns with our mission of creating an open platform that empowers business owners to aggregate valuable services under one digital fingerprint.”
Bob Carr, chairman and CEO of Heartland, said: “We look forward to working with Leaf and a consortium of service providers to advance how merchants gain advantage in this increasingly omni-channel world.”