- The round’s proceeds will mainly be allocated to acquisitions
- Nolk recently acquired Ergonofis, a developer of durable office products that improve their customers’ health and productivity
- It also recently acquired Opposite Wall, a designer of home decor products in accordance with the latest sustainability standards
Montreal-based Nolk, a brands platform that supports the growth of sustainable direct-to-consumer businesses, has raised C$30 million in Series A financing.
Fonds de solidarité FTQ led the round with participation from other backers, including Fondaction, Export Development Canada and Panache Ventures.
The round’s proceeds will mainly be allocated to acquisitions, with a small portion going to continued investments in technology and working capital.
Launched in 2018 with the mission to help the modern household find and use design centric, sustainable products, Nolk has seen rapid growth over the past few years. Today, its portfolio includes 11 complementary brands, seven of which are in the house goods segment.
“Nolk is a dynamic and visionary company with solid ESG values. Through its e-commerce model, Nolk gives a second wind into the products of local and overseas companies. With the Fonds’s investment, Nolk will have the capacity to invest in new companies to develop its market and its growth,” said Dany Pelletier, executive vice president, private equity and impact investing at the Fonds de solidarité FTQ, in a statement.
Nolk recently acquired Ergonofis, a developer of durable office products that improve their customers’ health and productivity, and Opposite Wall, a designer of home decor products in accordance with the latest sustainability standards.
Sam Finn, co-founder and CEO, and Kim Pondbriand, co-founder and CMO, will remain in their positions at Ergonofis, while Erik Rydingsvard will remain CEO of Opposite Wall, helping to expand the business across North America.
Based in Montreal, Fonds de solidarité FTQ is a provider of development and growth capital to Quebec businesses. It had C$17.4 billion in net assets as of May 31, 2022.