Bonsai Secures Additional $2.5 Million in Seed Financing for Mobile Shopping App
Bonsai, an online shopping platform that offers hundreds of premium brands targeted at millennial men, has secured an additional $2.5 million in seed financing.
This investment, led by Michael La Brier of Hunters Capital, brings Bonsai’s total funding to $3.3 million. This funding will allow the Toronto start-up to build an in-house technology arm to maintain its core marketplace product and release iterations across channels such as Android and desktop while launching a Canada – wide campaign to increase the number of men who use the app.
“Our purpose is simple: resolve the fundamental consumer pain points of e-commerce, and retail in general,” says Bonsai Co-Founder Saad Siddiqui. “We use sophisticated data to power artificial intelligence that delivers highly personalized shopping experiences. Consumer brands and the ecosystems that power them have to adapt to new technology.”
Hunters Capital invests in ground breaking stage start-ups with a notable investment in Supreme Pharmaceuticals, Canada’s largest medical marijuana producer, that recently completed an IPO and trades on the Canadian National Stock Exchange (XCNQ:SL).
This seed financing is in response to a year of steady growth for Bonsai, including the addition of several new international merchants and growth in both sales and staff. Bonsai has appointed veterans from Moneris, PayPal, Holt Renfrew and NKPR, among other top Toronto agencies.
Bonsai is an online marketplace that offers hundreds of premium brands of various styles to its targeted millennial male users. A sophisticated internal search engine allows users to browse their favourite brands and select from extensive product lists.
“Bonsai’s content-retail relationship is designed to align with the behaviours of an emerging cohort of ‘urban digerati,’ users who socialize with brands,” Says Siddiqui.
For more information, please visit www.shopbonsai.ca
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Shop Bonsai is the new way to shop men's fashion. Browse daily editorial content from a worldwide network of influencers and shop hundreds of international lifestyle brands including: Bang & Olufsen, Everest Isles, Harry’s and more from your phone. Bonsai is the shopping app for the creative class. Explore rich editorial content from our team of stylists, influencers, photographers and creators—we are the retail revolution.