- Cozey was founded in 2020 and is led by Frédéric Aubé
- Cozey furniture can be easily assembled with no need for tools
- The investment is part of CDPQ’s Ambition ME strategy, which targets support for medium-sized companies
CDPQ has invested C$10 million in Montreal-based Cozey, an online designer and seller of modular sofas. This transaction by CDPQ is part of a round of financing totaling C$15 million, combining new bank financing with reinvestments by shareholders already active in the company.
Founded in 2020 and led by Frédéric Aubé, a young entrepreneur, Cozey now distributes its products across Canada. The furniture can be easily assembled with no need for tools.
On the transaction, Kim Thomassin, executive vice president and head of Québec at CDPQ, said in a public statement: “Cozey is Canada’s leading player in the sofa-in-a-box market and has demonstrated the effectiveness of its digital business model. With this transaction, CDPQ will be supporting this innovative new-economy company toward achieving its future objectives, in particular an expansion of its various product lines and further penetration of the North American market.”
This investment is part of CDPQ’s Ambition ME strategy, which targets support for medium-sized companies with strong development potential in order to propel them to the next stage in their growth.
As of December 31, 2021, CDPQ said its net assets total C$419.8 billion.