Leaf is a fully tailored point-of-sale service that has raised $20 million in funding. The company currently has slightly under 1,000 customers. Heartland Payment Systems provided the funding. Heartland is a publicly traded payments processing company that hits around $2 billion in annual revenues.
Leaf’s software helps small businesses sort and analyze in-store transactions. Leaf sells their own tablet using a custom version of Android. Leaf does not process the payments, but they let customers choose from several payment processors, including Heartland and other competitors. Heartland will be integrating some of their payroll technologies into the Leaf point-of-sale system.
The funding will be used to increase the staff size, which is now at a total of about 50 people. Leaf will also invest in research and development for hardware and software.