Toronto and New York-Based BorderFree to Go Public

Toronto-based BorderFree (which also has offices in New York, Tel Aviv, Shanghai and Dublin) is reportedly set for an initial public offering.

The company is a market leader in international cross-border ecommerce solutions, and helps businesses throughout their global expansion, including design and planning, programming, implementation, deployments and stabilization, certification, and ongoing customer service. They also assist businesses in terms of logistics, marketing an insights.

Today DowJones and CanadianPrivateEquity reported that the company, formerly owned by Canada Post, will have Credit Suisse and RBC Capital Markets as lead underwriters for the offering. With its corporate headquarters in New York, Borderfree raised over $39 million from Canaan Partners, On-Line Ventures, Pitango Venture Capital, Seyen Capital, Delta Ventures.

It used to be called FiftyOne, and acquired what was then known as “BorderFree Ltd.” from Canada Post in 2012, adopting its current name in 2013. Canada Post, meanwhile, acquired BorderFree in 2002 from Brightspark Ventures, Mosaic Venture Partners, Ontario Teachers’, and Torstar for an undisclosed amount.

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