Canadian e-commerce marketplace ShopperPlus has secured C$17m ($13m) in a Series A financing round to support its growth plans.
The financing round was co-led by Celtic House Asia Partners (CHAP) and the Canadian Business Growth Fund (CBGF).
It included contributions from Celtic House Venture Partners and the National Bank of Canada, as well as Danny Zhang, co-founder of e-commerce shopping app Wish, and Sequoia China managing director Kevin Pan.
ShopperPlus will use the proceeds from the funding to add more vertical product offerings to its platform and enhance its in-house fulfilment centre coverage.
ShopperPlus founder and CEO Jack Zhan said: “ShopperPlus aims to provide Canadians with strictly selected goods and services to make their lives easier and better while helping companies become more efficient.
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By GlobalData“I’m thankful for the support from CHAP, CBGF and our other investors.
“Besides financial investments, CHAP is also assisting [us] with supply chain and ecosystem integration.”
Celtic House Asia Partners managing partner Jie Chen said: “ShopperPlus has a stellar business model. Its data-driven product suggestions and self-owned fulfilment centres provide competitive advantages.
“With [the] support of this financing, ShopperPlus will continue to scale its service across Canada and major US cities.”
ShopperPlus was founded in 2007 and aims to offer cost-effective and reliable everyday products, as well as creating a business-to-business stream for its customers.
The company’s product portfolio includes office supplies, electronics, lifestyle, kitchen utensils and other home goods.
ShopperPlus’ head office and principal warehouse is in Montreal, with the company also operating a distribution centre in Vancouver.
The Montreal and Vancouver facilities have a combined total of more than 60,000 products.
The company also has a branch office in Guangzhou, China, and has established a product development centre and technology research centre in Canada and China respectively.
More than 30% of goods on its platform are produced in Canada.
