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TeamBuy.ca Secures $7 Million In Financing

Although it is an extremely crowed space with well over 150 group-buying services, there still seems to be a still a strong level of confidence from the investor community who is willing to finance these startups. Toronto-based TeamBuy.ca announced it has secured $7 million from an institutional investor which it will use to further grow their offering and expand into more cities.

“This new round of funding will propel our expansion plan into several more Canadian cities and help us branch into new and exciting business avenues that go above and beyond daily deals. As opposed to expanding to other countries, we have decided to stick to Canada and broaden our offerings and customer engagement locally,” said Ghassan Halazon, CEO, TeamBuy.ca.

TeamBuy.ca was originally founded in 2009.