Key facts
- Scotch announced $20 million in Series A funding.
- The funding round was led by VMG Partners.
- First Round Capital, Lerer Hippeau, and Toba Capital also participated.
- Scotch has surpassed $1 billion in payment volume.
- The company aims to modernize liquor retail point-of-sale operations.
Scotch, a company focused on modernizing point-of-sale (POS) operations for liquor retail stores, has successfully closed a $20 million Series A funding round. The investment was spearheaded by VMG Partners, with additional contributions from First Round Capital, Lerer Hippeau, and Toba Capital. This funding injection comes as Scotch also announced it has surpassed a significant milestone of $1 billion in total payment volume processed through its platform. The company's objective is to enhance and modernize the operational and payment systems within the liquor retail sector.