News wins USD 31 million investment in series B funding

Monday 5 May 2014 13:41 CET | News, a Canadian online shopping platform, has raised USD 31 million in Series B funding.

Shaw Ventures, an affiliate of Shaw Communications, Torstar Corporation, Slaight Communications, Difference Capital and some North American financial institutions are among the investors of the funding in question. There are also members of who have participated as investors at the present funding round.

The current funding round expands the total cash raised to USD 52 million in less than two years. Scotiabank acted as exclusive financial advisor.

Shop. ca will invest the additional capital in building out its proprietary technology stack, add to its merchant network, enrich its customer loyalty initiatives and execute on partnership opportunities, locally and globally.

In addition, will ramp up its digital marketing and marketing partnerships as well as hire additional partner-employees to scale the business to profitability.

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Keywords: Canada,, ecommerce, investment, Series B funding, Shaw Ventures, Torstar Corporation, Slaight Communications
Categories: Payments & Commerce
Countries: World
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