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09/10/2021

ShopperPlus announces new funding to expand inventory

Canadian online retailer ShopperPlus announced it has raised C$17 million in funding to expand its portfolio of own brand products.
Zachary Russell
Associate Editor
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Canadian e-commerce platform ShopperPlus has successfully raised a C$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. ShopperPlus’ portfolio includes www.123ink.ca, www.primecables.ca, and www.living.ca

The new funding will be used to grow ShopperPlus' own brand product portfolio, including office supplies, pet and art supplies, electronics, lifestyle, kitchen utensils and other home goods categories. ShopperPlus' platform makes targeted and customized product recommendations based on individual purchase patterns and seasonality, with more than 30 percent of goods being produced in Canada. Since 2007, they have been able to provide customers with consistent, cost-effective, and reliable everyday products. ShopperPlus also successfully developed 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 this round will drive future platform expansion to include more vertical product offerings as well as broaden in-house fulfillment centre coverage.