Germany-based payment solutions company Inventorum has raised €4m ($5.1m) in a series A round featuring German government and corporate-backed venture capital fund High-Tech Gruenderfonds (HTGF).
VC firm Vogel Venture and private investor Max Iann also took part in the round. The funding will be used to support growth and product development.
Inventorum has developed an iPad point of sale system for small retailers. The software enables small businesses to more efficiently manage their offline and online businesses by supporting daily processes such as point of sale and inventory management.
The company closed a second round of seed funding in October, receiving an undisclosed sum from HTGF, media and e-commerce investor Klingel New Media, Vogel Ventures and MCB.