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Square rival SpotOn boosts hiring after raising $40 million from top-tier investors

Mark Calvey
Square rival SpotOn boosts hiring after raising $40 million from top-tier investors

San Francisco-based SpotOn Transact has big hiring plans after raising $40 million, especially in its rapidly growing services for restaurants. The latest financing round was led by Franklin Venture Partners, the venture capital arm of San Mateo-based Franklin Templeton and its parent Franklin Resources Inc. (NYSE: BEN). The financing included “significant participation” from Dragoneer Investment Group, which previously invested in Airbnb, Square (NYSE: SQ), Slack, ServiceNow (NYSE: NOW) and Uber (NYSE: UBER), among others.