Montreal-based Lightspeed, which serves small and medium-sized businesses with its cloud-based omnichannel point of sale software, has opened a new consolidated office space in downtown Toronto. The office is part of the company’s endeavour to grow its operations while securing exceptional talent in the city after Lightspeed went public on the Toronto Stock Exchange last year.
Lightspeed’s Toronto office is now located at 410 Adelaide Street West, which is only a few steps west of Spadina Avenue. The building itself spans six levels and is part of an up-and-coming area that is seeing substantial development. The fifth-floor Lightspeed office features a branded lobby area with dark walls which leads into a kitchen hub facing open-concept work areas and meeting rooms. Plants and flowers are found throughout the new space which features an industrial-like design. A total of 27 Lightspeed employees currently work out of the space, and there will be room for more team members as Lightspeed expands its Toronto presence.
The new Toronto office’s focus is on corporate development as well as Lightspeed Loyalty and Lightspeed Payments operations — underwriting and charge backs are also done by the Toronto team. The central workspace features Lightspeed’s consumer-facing loyalty initiatives along with developers who are continuously updating the retail platform.
Toronto is undergoing a tech boom, with thousands of skilled individuals descending on the city annually. Dax Dasilva, founder and CEO of Lightspeed, said that one of the goals of opening the Toronto office is to gain access to the exceptional talent pool found in Toronto as Lightspeed continues to evolve and grow. He explained how Toronto’s embracing diversity makes it an attractive city for employees, along with the city’s strong universities and financial services centre. A strong tech ecosystem in Toronto includes experts in developing apps and other technology that is being integrated into Lightspeed’s platforms.
The new Toronto office also gives Lightspeed a place to hold meetings and meet with clients in the city. Mr. Dasilva explained how Lightspeed’s senior management is spending more time in Toronto than ever, especially after launching the successful IPO last year. Proximity to Toronto’s Financial District is an added bonus as Lightspeed continues to grow its operations in Canada’s biggest city. Business development will continue to be a priority in the Toronto office, particularly given the office’s location near other tech and financial services. Lightspeed also has a team of employees in nearby Waterloo, as well as the company’s Chief Financial Officer and General Counsel.
Lightspeed previously operated several smaller office operations in Toronto. Mr. Dasilva said that it took some time to find a “great” space in the city, particularly with a tight office market amid an unprecedented tech boom in Toronto which has seen a record-low vacancy rate. Lightspeed will continue to grow its operations globally as the company continues to launch new products to better serve its thousands of retail and restaurant customers. Lightspeed now employs more than 900 people in its 14 offices around the world and is poised for future growth as it secures more business clients and expands its offerings geared towards creating efficiencies.
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