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Lightspeed

2005–2026 in 7 milestones, 5 of them in payments, lending, licences or reported financials.

2005
Founded
Montreal, Quebec, Canada
Headquarters →
● Founded◆ Funding■ Partnership○ MilestoneEmbedded finance
The money · FY2026

66% of Lightspeed’s $1.2B revenue came from payments

Revenue FY2026: $1.2B
66%
30%
Transaction-based (payments and merchant cash advances) $815M · 66%Subscription $371M · 30%Hardware and other $41M · 3%
Of the $815M payments revenue
70% paid out
30%
Transaction-based cost of revenue (processing and interchange) $570MKept by Lightspeed $245M
$41B
payment volume processed
2.0%
of volume earned as payments revenue
$527M
gross profit
−$152M
operating loss
Fiscal year to March 2026. Revenue grew 14%; transaction revenue includes $50M of merchant cash advances. Source: Lightspeed fiscal 2026 results (SEC filing) ↗
2005
● Founded

Lightspeed founded by Dax Dasilva in Montreal as a point-of-sale software provider for brick-and-mortar retailers.

2017
◆ FundingEmbedded finance

Raised $166M Series D — largest VC round in Canadian tech history at the time — to expand into payments and new geographies.

2019
○ Milestone

Lightspeed went public on the Toronto Stock Exchange (TSX: LSPD).

2022
■ PartnershipEmbedded finance

Expanded use of Adyen for Payments B2B product line, taking integrated payments further in-house for retail, hospitality, and golf verticals.

■ PartnershipEmbedded finance

Partnered with Stripe to power omnichannel payments in the US and Canada using Stripe Connect, Terminal, and Capital.

2023
○ MilestoneJunEmbedded finance

Lightspeed expanded its merchant cash advance programme (Lightspeed Capital) to the United Kingdom.

Source ↗
2026
○ MilestoneMayEmbedded finance

Subprocessors list updated (May 15, 2026), confirming Adyen for Payments B2B across all major product lines.

Source ↗