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Young E-Commerce Platform Receives Large Investment

Posted on 5.03.2014

Becoming successful in the e-commerce sector is no easy feat. Alone, good work ethic and a dedicated team is not enough to make it in this brutal line of business. What you really need in order to be successful in this industry is a lot of money.

SHOP.CA, a Canadian online shopping platform, has announced they received $31 million through a second round of funding. The money was received in a round of series B funding (second round of financing by private equity investors or venture capitalists). In less than two years the young company, launched in July 2012, has raised a total of $52 million and become one of Canada’s top 10 e-commerce websites.

“We are extremely pleased with the response and support of our plans from new and existing shareholders,” said Drew Green, ceo and founder of SHOP.CA

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The company says it's planning to use part of the new cash influx to build its own proprietary technology stack (a set of software that provides the infrastructure for a computer).

“This equity raise is a key building block to ensuring we capture the opportunity that exists in Canadian e-commerce,” said Michael Tait, founding partner of SHOP.CA.

SHOP.CA’s competition includes Canada Goose, and Indigo.

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