TORONTO, ONTARIO--(Marketwired - May 2, 2014) - Difference Capital Financial Inc. ("DCF") (TSX:DCF)(TSX:DCF.DB) is pleased to announce that it has participated in a private placement financing of SHOP.CA. SHOP.CA is a leading Canadian online shopping destination known for its daily sales events, millions of products, top brands, personalized customer service and free shipping and returns.
DCF participated in the $31 million Series B financing, which attracted new investors including Shaw Ventures, an affiliate of Shaw Communications Inc. SHOP.CA's existing shareholders also participated including Torstar Corporation and Slaight Communications. The Series B financing brings SHOP.CA's total capital raised to date to $52 million. The proceeds will be used to continue to build out SHOP.CA's proprietary technology stack, add to its supplier network, enrich its customer loyalty initiatives and execute on exciting partnership opportunities. DCF first invested in SHOP.CA in September 2013.
"Our SHOP.CA investment is a key part of our e-commerce investment strategy," said Michael Wekerle, Chief Executive Officer at DCF. "This financing will provide SHOP.CA with the necessary resources to increase demand and growth for the future."
"We are pleased to increase our stake in SHOP.CA which we believe is the emerging leader in Canadian retail eCommerce. Canada lags the U.S. and other markets in online retailing and SHOP.CA with its business model and strong management team is well positioned to capture significant growth as this gap closes and more Canadians go online to shop," said Tom Astle, Head of Investment Strategy at DCF.
About Difference Capital Financial Inc.
Difference Capital Financial Inc. invests in and advises growth companies. We leverage our capital market expertise to help unlock the value in technology, media and healthcare companies as they approach important milestones in their business lifecycle. Difference Capital Financial Inc. is traded under the Toronto Stock Exchange under the symbol "DCF".
SHOP.CA is proud to be Canada's largest store and fastest growing e-Commerce destination. Anchored by an outstanding customer loyalty team, over 3 million products, thousands of popular and new brands, Free Shipping and a 365 Day Return Policy, SHOP.CA is Canada's most comprehensive online Shopping experience. Launched in July 2012, SHOP.CA offers Canadian online shoppers a truly compelling and convenient shopping experience.