Kiwi software developer Vend says it's secured $8 million in new funding that it will use to invest in its product and expand operations in New Zealand, Australia, the United States and Europe.
The Auckland-based firm's cloud-based technology enables retailers and other businesses to accept payments, track customers, manage inventory, provide loyalty incentives and run business analytics.
In an announcement on its website Vend said its new investors included Craig Winker, who founded accounting software provider MYOB and is also a cornerstone shareholder in Xero, as well as Paul Bassett and Matt Rockman, the co-founders of jobs website seek.com.au.
The Milford Active Growth Fund, managed by Brian Gaynor, had also invested funds, while further capital had also been raised from existing investors in New Zealand and abroad, including Germany's Point Nine Capital, Vend said.
In the announcement Winkler said much of the best innovation in business software was taking place in the move to cloud-based technology.
