CanvasPop Raises $3.3M in Funding

CanvasPop, an Ottawa, Canada-based provider of canvas printing and photo gifting services for photographers, digital artists, interior designers and everyday consumers, raised $3.3m in funding.

The round was led by Celtic House Venture Partners and BDC’s Growth & Transition Capital group, a division of BDC, with participation from angel investors, including Tobi Lutke and Cody Fauser, as well as Canadian entrepreneur and philanthropist Richard L’Abbé.

The company intends to use the funds to expand its product mix and to accelerate market penetration.

Founded in 2009 and led by Nazim Ahmed, CEO, and Adrian Salamunovic, Chief Innovation Officer, CanvasPop offers online photo printing services that allow anyone to print virtually any image, including Instagram, Facebook and iPhone pictures, via printing and dedicated distribution facilities in the United States and Canada.
To date, the company has been bootstrapped and supported by rounds of debt and mezzanine financing from BDC.

CanvasPop has been able to organically build a successful business with over 450,000 individual customers.




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