Canadian start-up Tyltgo has secured a seed investment to support its expansion strategy.
The company, which enables white-labelled delivery for retailers through technology, will use the C$2.3m ($1.8m) investment to support and accelerate its expansion across Ontario.
The seed round was led by San Francisco-based venture capital firm TI Platform Management. Other investors included seed money start-up accelerator Y Combinator and angel investor Charles Songhurst.
The funding caps a year of 2,000% revenue growth for Tyltgo.
Tyltgo CEO and co-founder Jaden Pereira said: “These are uncertain times for retailers, but we help these merchants connect with their customers in an innovative way that will continue to serve them after lockdown restrictions lift.
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By GlobalData“This capital will allow us to help more retailers across Ontario and boost local economies.”
TI Platform Management partner Khaled Hussein will join Tyltgo’s board as chairman. A co-founder of Tilt, Hussein is currently managing director at Stipple Ventures and was formerly payments lead at Airbnb.
Hussein said: “Tyltgo has the potential to be one of Canada’s next great success stories, riding on the e-commerce wave from Shopify.
“Its business model combines several innovations in same-day delivery that will boost Canada’s sharing economy.”
Founded in 2018, Tyltgo offers same-day delivery for merchants and allows them to modify their post-purchase delivery experience via custom messaging and branding.
The company has collaborated with several companies, including Canadian flower delivery service provider Bloomex and food technology start-up General Assembly.
Tyltgo aims to serve a further 100 retailers by the end of the year, focusing on the rapidly growing meal kit vertical. It is also looking into expansion into Montreal and Vancouver.
The company currently has nine employees and plans to double its team size over the next two quarters.
