Montreal-based Spaceful, a technology-powered e-commerce fulfillment startup, has secured C$1.3 million in financing. The round was led by Cyberdyne Investments, an affiliate of Canadian industrial real estate business Groupe Quint, with participation from Designstripe’s François Arbour, Rivemont Investments and others.
MONTREAL, July 14, 2021 /CNW Telbec/ – Spaceful, Montreal’s leading tech-powered e-commerce fulfillment startup, announces today that it has raised a $1.3M financing round from a division of Groupe Quint, one of the most active private industrial real estate firms in Canada. Other prominent investors also participated, including François Arbour, CEO of designstripe and founder of PremiumBeat (Sold to Shutterstock), and Rivemont Investments. In the past year and a half, Spaceful’s revenue has grown by over 1,000%.
”We are very proud to participate in this strategic partnership with Spaceful as we see an unlimited potential for growth. We are extremely confident in the Spaceful team’s ability to execute on Maxime’s vision to transform the logistics business. We believe Groupe Quint’s real estate expertise and client relationships will be a valuable asset for the growth of the company,” said Ian Quint, President and Founder of Groupe Quint.
Founded by Maxime Villemure and Adlene Barouche in 2019, Spaceful initially focused on a novel approach to consumer storage with its tech-enabled, full-service offering. Since launching this service in August 2019, they have grown to become the largest full-service storage service in Quebec, with thousands of customers served.
As a result of the COVID-19 pandemic, Spaceful received a lot of organic demand from e-commerce businesses and retailers of all sizes asking for help for their logistics need. For example, amid the first wave of COVID-19 in April 2020, Spaceful has helped merchants with the order preparation and delivery of over a million N95 masks to local hospitals and essential services businesses.
Over the past year, Spaceful has been focusing on expanding its offering to businesses by investing heavily in its technology and operations. This investment round and the strategic partnership with Groupe Quint will empower the company to expedite its growth across Canada and make key hires in management, product, engineering, and business development.
”Our initial vision to revolutionize the consumer storage experience has expanded to e-commerce and retail businesses of all sizes faster than we expected. The traditional third-party logistics (3PL) market, which is more than 100x bigger than the consumer storage market globally, has very similar problems”, Maxime Villemure said. ”What we’ve seen in the market is that a majority of current 3PL solutions lack flexible technology, are not customer-centric, and offer a disjointed user experience with out-of-date software, or in many cases, no software at all. Our team at Spaceful is laser-focused on bridging these gaps by building the best online and offline experience possible for merchants and their customers through our various technology platforms, integrations, and experiences. In short, we’re building what our customers call the Shopify of Logistics”.
Spaceful is one of Canada’s leading tech-powered logistics company. They operate across Canada and ship orders internationally. Powered by their proprietary technology stack, they offer end-to-end logistics solutions from freight, inventory management, storage, e-commerce order preparation to same-day home delivery.