Québec-based startup ShopperPlus has raised $20 million CAD in Series A financing to bring its e-commerce platform and delivery service to more customers.
The round was led by California-based Celtic House Asia Partners, and supported by the Canada Business Growth Fund, Ottawa’s Celtic House Venture Partners, and National Bank. ShopperPlus’ Series B round also saw participation from Wish co-founder Danny Zhang and Kevin Pan, managing director of Sequoia Capital China.
Jie Chen noted that Zhan has “achieved high profits and steady growth without external funding.”
During the pandemic-driven shift to e-commerce, ShopperPlus saw significant demand for the products on its platform, recording over 10 million page views in 2020. Armed with fresh capital, ShopperPlus plans to expand its product selection and the range of its fulfillment centres.
“Besides financial investments, Celtic House Asia Partners is also assisting ShopperPlus with supply chain and ecosystem integration,” said Jack Zhan, founder and CEO of ShopperPlus. “The funds raised this round will drive future platform expansions to include more vertical product offerings as well as broaden our in-house fulfillment centres’ coverage.”
Founded in 2007, ShopperPlus describes itself as “Canada’s best discount online store.” The company identified its niche in 2015: selling office supplies, like printer ink toner cartridges. Today, ShopperPlus’ platform boasts millions of users, and also sells electronics, lifestyle products, and a variety of other goods, offering users targeted product recommendations based on individual purchase patterns and seasonality.
The startup aims to counter “the high transport fees and speed barriers inherent in North America’s supply chain” using its “unique advantages extracted from Asia’s e-commerce scene.” ShopperPlus is headquartered in Vaudreuil-Dorion, Québec, a Greater Montréal suburb where the startup’s principal warehouse is also located. The company has a distribution centre in Vancouver and a research and development (R&D) centre and branch office in China.
ShopperPlus currently serves Canadian markets like Montréal, Toronto, and Vancouver, offering 24-hour customer support and guaranteed next-day delivery “for at least a half of its customers” by shipping orders filed before 2pm on the same day.
The company currently has over 150 employees in Canada, where it claims over 30 percent of the goods sold on its platform are produced.
Jie Chen, managing partner at Celtic House Asia Partners, noted that Zhan has “achieved high profits and steady growth without external funding,” describing ShopperPlus’ business model as “stellar.” Chen said he believes ShopperPlus “has even greater potential with stronger financial backing.”
“With support from Celtic House Asia Partners and other investors, we hope to extend ShopperPlus’ 48-hour delivery service to across Canada and major US cities,” added Chen.
Feature image courtesy of ShopperPlus