Vancouver startup LemonStand secured an undisclosed seed funding round today from the Business Development Bank of Canada’s IT Venture Fund and four angel investors: Michael Klinger, Paul Rochester, Kalle Radage (Chief Product Officer at Payfirma) and Michael Weider (VP at Akamai Technologies, Founder of Watchfire and ex-CEO of Blaze Software). The company has built an eCommerce platform that is aimed at mid-size merchants and developers are looking to create online stores. The seed funding will allow LemonStand to expand their team and community, while continuing to execute on their vision of a modular, easy-to-use, and higher performance eCommerce platform.
“With consumers becoming increasingly comfortable purchasing online, more and more merchants are scrambling for an eCommerce platform that meets their needs of flexibility, quality support, community and at a price point they need to be successful,” said Danny Halarewich, Co-Founder and CEO, 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.”
Since LemonStand launched the first version of its eCommerce platform in 2010, it has seen incredible loyalty from their customer base, which has doubled in the last year, along with merchant transactions growing 250%.