Meridian retained by Shopster E-Commerce Inc. to provide advisory services and raise capital
(Calgary, Alberta) Meridian Merchant Capital Canada Ltd. today announced that it has been engaged to provide sophisticated corporate finance advisory services and access to capital for one of the most promising e-commerce companies to emerge in the past 10 years.
Calgary based Shopster.com is a provider of a proprietary solution which creates a network of suppliers and retailers, providing them with best in class e-commerce, order management, and payment software. Operating through its www.shopster.com web site, and through more than 900 retailer web sites, Shopster connects customers all over North America with access to nearly 1 million different products through 150 suppliers.
“This company is experiencing a significant ramp-up in revenues, but is clearly only scratching the surface,” explained Meridian managing director Randy Lennon. “It is now being recognized in the Internet world that Shopster can literally revolutionize e-commerce.” The spotlight was on the company at a recent retailing convention in San Jose where the keynote speaker focused on Shopster as an example of how e-commerce is about to be transformed. This attention has drawn enquiries from significant players in the industry and has convinced Shopster CEO Sarath Samarasekera that it is time for sophisticated corporate finance advisory services and capital.
“We have an amazing opportunity to rapidly expand our market prior to the lucrative pre-Christmas retail season and that will require additional capital,” explained Samarasekera. “We are confident that Meridian will be successful in pulling it all together this summer.”