Canadian Startup Raises Seed Funding from BDC and Angels

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.