TeamBuy, a Toronto, Canada-based online deals platform, raised $5m in funding.
Backers included BEST Funds and other existing institutional investors (Insight Venture Partners, ru-Net, and Georgian Partners are among the existing backers of the company).
TeamBuy, which earlier in 2013 merged with competitor Dealfind.com, intends to use the funds to expand into complimentary business models.
The company recently rolled out a digital flyer initiative highlighting weekly flyers & coupons from national retailers and brands and is advancing into restaurant commerce initiatives that include Tasteaway.ca (takeout & delivery), MenuPalace.com (restaurant and hospitality guide), and Www.DiningDateNight.com (discounted reservations).
It has also joined the MasterPass™ by Mastercard program to offer its customers a streamlined checkout experience while shopping.
Launched in Toronto in 2009 and led by Ghassan Halazon, CEO, TeamBuy.ca offers deals across multiple categories including on restaurants, healthy & beauty, electronics, Home, fashion, Luxury goods and general services.