Canadian Startup Raises Seed Funding from BDC and Angels

Posted by Techvibes NewsDesk

Vancouver's LemonStand, an e-commerce platform aimed at mid-size merchants and developers creating online stores, has raised seed funding from the Business Development Bank of Canada IT Venture Fund and a group of angel investors.

The seed funding allows Canadian Startup to expand their team and community, "while continuing to execute on their vision of a modular, easy-to-use, and higher performance e-commerce platform."

“With consumers becoming increasingly comfortable purchasing online, more and more merchants are scrambling for an e-commerce platform that meets their needs of flexibility, quality support, community and at a price point they need to be successful,” said Danny Halarewich, CEO of LemonStand. “We’ve built a strong, loyal community of happy developers around our platform, and we're very excited to further strengthen the LemonStand ecosystem by investing more into development and partnerships.”

The four angel investors who participated in the round are Michael Klinger, Paul Rochester, Kalle Radage and Michael Weider.

“We see a huge opportunity in the eCommerce space for LemonStand. The founders, with over 18 years of experience as web developers, have built a powerful, intuitive platform in a rapidly growing market where other options were lacking," said Andrew Lugsdin, Partner, BDC IT Venture Fund. "LemonStand will change the way future eCommerce stores are built—with a focus on building a strong ecosystem that brings rich features to merchants at a very affordable price.”

The BDC IT Venture Fund is a Canadian venture capital fund with partners in Toronto, Montreal, Vancouver, and Ottawa.

Company:
LemonStand
Website:
http://lemonstand.com
Location:
Vancouver, British Columbia, Canada

The cloud eCommerce platform for growth-ready businesses. LemonStand is 100% customizable, allowing online retailers to implement custom business logic and integrate with the services they need to grow their business. Full of amazing features, an easy to use interface, strong developer community plus a Marketplace to purchase and sell add-ons. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property. Originally founded in 2002, Techvibes is dedicated to covering social, mobile, and startup news that impacts Canadians. Our editors and nationwide network of reporters combine breaking hyperlocal news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and... more



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