Montreal ecommerce company ShopperPlus is raising $17 million in series A money in a round co-led by Celtic House Asia Partners (CHAP) and the Canadian Business Growth Fund (CBGF).
Celtic House Venture Partners and the National Bank of Canada also contributed to the round. Individual investors include Wish cofounder Danny Zhang and Sequoia China Managing Director Kevin Pan.
CEO Jack Zhan’s company will will use the new cash to “drive future platform expansion to include more vertical product offerings as well as broaden in-house fulfillment centre coverage.”
Founded in 2007, ShopperPlus sells office supplies, electronics, lifestyle, kitchen utensils and other home goods, including more than 30 percent Canadian-produced goods. It makes targeted product recommendations based on individual purchase patterns and seasonality.
“ShopperPlus aims to provide Canadians with strictly selected goods and services to make their lives easier and better while helping companies become more efficient.” said Zhan. “I’m thankful for the support from Celtic House Asia Partners, CBGF and our other investors. Besides financial investments, Celtic House Asia Partners is also assisting ShopperPlus with supply chain and ecosystem integration.”
Zhan started ShopperPlus by originally selling ink and toner cartridges, printers and office supplies, cables and adapters, cellphone and camera accessories, and more. Zhan’s network now encompasses three websites: 123ink.ca, primecables.ca and living.ca. The company’s head office and principal warehouse is in Montreal, with a distribution centre in Vancouver.
The company’s two warehouses stock over 60,000 products. Its other office is in Guangzhou, China. The company said in a release that its logistics infrastructure allows it to work faster than typical delivery turnaround times in Canada.
“ShopperPlus has a stellar business model,” said Celtic House Asia Partners’ Jie Chen. “Its data-driven product suggestions and self-owned fulfillment centres provide competitive advantages. With support of this financing, ShopperPlus will continue to scale its service across Canada and major U.S. cities.”