Brokrete, a Toronto, Canada-based provider of an e-commerce platform for suppliers in the construction industry, called Storefront, closed a US$3M seed financing round.
The round was led by Xploration Capital and was joined by new strategic investors, existing investors and key employees.
The company intends to use the funds to further accelerate its growth in the North American and European markets.
Founded by Jordan Latourelle, CEO, in the Ottawa /Gatineau region in 2017 and having relocated to Toronto in 2020, Brokrete provides suppliers a coding-free, whitelabeled, multi-channel solution to sell and manage orders online. The Brokrete Storefront gives suppliers their own iOS and Android app, a full e-commerce experience through their own website and the tools to continue to receive offline orders from more ‘traditional’ customers, all in one place. It also provides order management, payouts, dispatching, logistics and real-time delivery. With financial and operational ERP integrations, Storefront can operate stand-alone or alongside integrated products.
The company serves a global customer base of suppliers and contractors across three continents.
Earlier this year, Brokrete was backed by Y Combinator after graduating from its spring cohort.