Overview of Transaction

• On September 13, 2021, SpotOn announced that it has raised $300 million in its Series E financing round led by Andreessen Horowitz
• This round included participation from current investors, including DST Global, 01 Advisors, Dragoneer Investment Group, Franklin Templeton, and Mubadala Investment Company, as well as new investors Wellington Management and Coatue Management
• The round values SpotOn at $3.15 billion, up from $1.875 billion in its Series D only four months ago
• SpotOn, founded in 2017 and based in San Francisco, is one of the fastest-growing software and payments companies with comprehensive solutions for restaurants and retail businesses
• Known for its rapid innovation and customer service, SpotOn offers an end-to-end, integrated platform, acting as the foundation of its clients’ operations

Significance of Transaction

• SpotOn plans to use the funding to acquire Appetize, a leading digital and mobile commerce platform for enterprise businesses such as sports and entertainment venues, theme parks, campuses, and more
• The acquisition leverages SpotOn’s SMB expertise and Appetize’s enterprise acumen to focus on a broader market that is beneficial for all clients
• Appetize enhances SpotOn’s ability to address the middle market through the combination of SpotOn’s superb field sales coverage across the country and Appetize’s enterprise product platform

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to SpotOn
• FT Partners previously advised SpotOn on its $150 million Series D financing in May 2021
• This transaction highlights FT Partners’ deep domain expertise across Payments and software businesses, as well as its successful track record generating highly favorable outcomes for high-growth FinTech companies globally