Ecommerce startups in Toronto

Michele Romanow & Andrew D'Souza

Founded 2015 as Clearbanc; rebranded Clearco in 2021. Revenue-based, non-dilutive capital for e-commerce brands — has deployed $5B+ to 10,000+ online brands. Peaked at a ~$2B valuation (2021) and raised $775...

Derrick Fung

Founded 2015; consumer rewards/loyalty app that gives cash-back points across 300+ merchant partners; signed up 3M+ users. Raised ~US$70M total including a US$44M ($58M CAD) NEA/HOF-led Series B (2019) with ...

Max Rhodes, Marcelo Cortes, Daniele Perito & Jeffrey Kolovson

Founded 2017; B2B wholesale marketplace connecting independent retailers with makers/brands. ~$13B+ valuation. FLAG: HQ is San Francisco, NOT the GTA — exclude from GTA core set despite heavy Ontario footprint.

Wehuns Tan

Founded 2007 as Wishabi; rebranded Flipp in 2015. Digital-flyer, coupon and shopping-list app that digitizes retailer circulars — reached 50M+ weekly users. Raised $61M from General Atlantic (2016) with Insi...

Mark Ang & Heindrik Bernabe

Founded 2017 (as Second Closet, a student valet-storage service); pivoted to sustainable 3PL — warehousing, fulfillment, last-mile delivery and returns for e-commerce brands, using an EV fleet (IKEA Canada p...

Matt Golden

Founded 2011; leading Toronto seed-stage fund active across marketplace, e-commerce, food, logistics and consumer, plus SaaS/fintech. 220+ investments; consumer/commerce bets include Ritual, Properly, Rebels...

Proptech company modernizing home buying/selling with an iBuyer-style model; raised a $22M Series A. A recognizable Toronto proptech name in the 2023–2025 window.

Emily Hosie

Founded 2020; re-commerce marketplace for open-box and returned baby gear, processing overstock/returns for 2,500+ brands (Hudson's Bay, BabyBjörn, 4moms, Target). Raised a $24.45M CAD (US$18M) Series A in 2...

Kerry Liu, Frank Thomas & Dan Theirl

Founded 2013; AI-based demand forecasting and trade-promotion / pricing optimization for retail and CPG. Acquired by Ottawa's Kinaxis for $81.4M CAD (US$60M), closing July 2 2020; CEO Kerry Liu became EVP of...

Marie Chevrier Schwartz

Founded 2013; digital product-sampling SaaS platform helping CPG brands (L'Oréal and others) distribute targeted, measurable samples. Raised ~$13M CAD total (BDC Women in Tech, StandUp Ventures, EDC, MaRS IA...

FLAG per instructions: Shopify is Ottawa-HQ'd, NOT GTA. Noted only to pre-empt inclusion.

Ali Asaria

Founded 2013; mobile clienteling / retail-associate SaaS giving store staff inventory, product and customer data (clients: Saks, Michael Kors, Indigo, Toys 'R' Us). Raised ~$70M total including a US$28M Seri...

Ali Asaria

Founded 2008; pioneering Canadian online health/beauty/household retailer (40,000+ SKUs). Acquired by McKesson Canada (Dec 2017); resold to PE firm Birch Hill Equity Partners (Sept 2024). Founder Ali Asaria ...