Vend founder Vaughan Fergusson with partner Zoe Timbell. Photo / FileAuckland-based Vend - which makes software that allows cash registers to be replaced by iPads - has been sold to North American company Lightspeed for US$350 million ($455m). Vend was founded in 2009 by Vaughan Fergusson, who had just sold his first startup - an online travel booking platform - to Trade Me. Vend was valued at US$100m with its last major capital raise around 2016 - indicating the sale is a considerable payday for shareholders. Vaughan Fergusson is today devoting most of his time to running the Pam Fergusson Charitable Trust, named after his paraplegic mother, who raised he and his two brothers solo.

Source: New Zealand Herald March 11, 2021 22:51 UTC