Tiller, the tech company that provides a point-of-sale solution, has exceeded one billion euros in monthly transactions during 2019. The number represents a year-over-year 54% growth, when the startup’s customers generated 700 millions on average every month. The company figures also point to an increase in the volume of transactions per customer, as well as the average ticket.
Tiller was founded in early 2014 and has raised more than 16 million euros in funding rounds since then. The company offers its 8000 customers an end-to-end solution that not only serves as a point of sale, but also allows to manage and analyze the business. Its features include order taking, sales monitoring in real time and access to a marketplace of integrated digital solutions.
In 2019, its average monthly transaction volume reached 1,2 billion euros and the figure continues to rise. “This milestone represents a real pride for our entire team,” says Dimitri Farber, co-founder of Tiller. “Today we help thousands of customers build, manage and boost their shops and restaurants and we love to see them grow.” In addition to the global volume, compared to 2015 the value of transactions per customer has grown by 57% and the average ticket by 14%.
FROM CASH REGISTER TO ECOSYSTEM
These are not the only news that Tiller has revealed this year. In May, the company announced the acquisition of the Spanish artificial intelligence startup Beesniss, which specializes in supplier order management. With its purchase, it seeks to complement the POS features with tools such as advanced stock control, invoice scanning and personnel management.
To reflect the change, the company also released a new brand identity. It changed from being defined as a cash register solution to an ecosystem that brings together multiple solutions for business control. Whether combined or used individually, the objective is for Tiller’s tools to “allow restaurateurs and merchants to optimize their business management.” According to its founders, the startup aims to conquer the European market by offering an all-in-one solution for entrepreneurs.