AppDirect raises 185 Million USD

AppDirect is San Francisco-headquartered startup founded by two Canadians, recently raised $185 million USD in funding, bringing the company’s grand total funding to about $465 million USD.

APPDIRECT’S LAST FINANCING WAS A $140 MILLION ROUND five years ago

La Caisse de dépôt et placement du Québec led the financing with participation from JPMorgan Chase, Mithril Capital and Inovia Capital.

AppDirect has communicated that the newly raised funds will be spent on the startup’s “organic expansion” (hint: acquisitions, new hires!).

According to The Globe and Mail, AppDirect will hire 150 new employees in its Montreal office located on rue de Bleury in Downtown Montreal, making it the startup’s most populated office.

AppDirect’s last funding round took place in 2015 and totalled grand total of $140 million. Ever since the 2015 round, the incorporation has witnessed a 1,500% growth in gross merchandise value to over $1 billion USD. How’s that for a successful business? AppDirect also claims to now serve 2000 merchants globally.

AppDirect has 2 Canadian offices, in Montreal and Calgary. The company has also acquired another Montreal’s startup – Radialpoint.