CHAP, CBGF and a couple of individual investors join the deal.
[Vaudreuil, Quebec, Canada - September 8, 2021 - ShopperPlus] – Canadian e-commerce platform ShopperPlus has raised a CAD 17 million Series A financing co-led by Celtic House Asia Partners (CHAP) and the Canadian Business Growth Fund (CBGF), with participation from Celtic House Venture Partners and the National Bank of Canada. Individual investors include e-commerce shopping app Wish co-founder, Danny Zhang, and Sequoia China Managing Director, Kevin Pan.
After more than a decade of pathfinding in e-commerce, the company's product portfolio has grown to include office supplies, electronics, lifestyle, kitchen utensils and other home goods categories. ShopperPlus' platform customizes and makes targeted product recommendations based on individual purchase patterns and seasonality, with more than 30 percent of goods being produced in Canada. Since 2007, the Company has been able to provide its customers with consistent, cost-effective and reliable everyday products. The Company is also successfully developing a business-to-business stream whereby it helps corporations efficiently and economically purchase its office supplies.
"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 Jack Zhan, founder and CEO of ShopperPlus. "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." The funds raised in this round will drive future platform expansion to include more vertical product offerings as well as broaden in-house fulfillment center coverage.
In Canada, ShopperPlus has two warehouses that together stock over 60,000 products. The company has also established a new product development center and technology research center in Canada and China. Leveraging a global workforce combined with local experience, ShopperPlus continues to make its mark as an international brand.
Jack Zhan noted that e-commerce has profoundly impacted retail with youths, especially Canadians, becoming increasingly receptive to online shopping. ShopperPlus' own logistics infrastructure increases order fulfillment speed, making it much faster than typical delivery turnaround times in Canada. "We are proud to back Jack and his team as they expand into new markets and continue to develop its private-label offerings," stated George Rossolatos, CEO of CBGF.
"ShopperPlus has a stellar business model," said Jie Chen, Managing Partner at Celtic House Asia Partners. "Its data-driven product suggestions and self-owned fulfillment centers provide competitive advantages. With the support of this financing, ShopperPlus will continue to scale its service across Canada and major US cities."