Teambuy secures and raises another $5 million to fund next step in growth as Canada’s leading Deals Provider

Teambuy secures and raises another $5 million to fund next step in growth as Canada's leading Deals Provider

Teambuy has just announced that they have raised $5 million from Best Funds and existing institutional investors.

This is another strong move by Canada’s leading deal provider and will go towards funding their next step in what we believe will eventually become a leading shopping destination for Canadians with great deals and offers across product and service categories.

Operationally speaking, Teambuy has put in a lot of work since the beginning of the year when they decided to merge with Dealfind. As the industry, merchants and consumer know, Dealfind had tremendous customer service issues and the Teambuy team dedicated themselves to working through them, solving them and integrating both companies. We at the Canadian Deals & Coupon Association receive plenty of consumer complaints about industry providers. We can say that complaints from Dealfind have significantly dropped over the course of the year.

With the addition of these new funds, Teambuy can now focus on growth opportunities and as they mention in their press release, improve the merchant and customer experience.

Teambuy already started investing in initiatives such as expanding into the restaurant sector with Local Commerce initiatives that include (takeout & delivery), (restaurant and hospitality guide), and (discount reservations). The restaurant sector is the number 1 category that consumers request deals for across the country.

We have included the full press release from Teambuy below:


Leading Canadian Deal Site Secures ~$5M Round

Financing focused on enhancing post-merger merchant experience and introducing add-on services

TORONTO – Canada’s largest online deals destination TeamBuy ( announced today that it has raised ~$5M in funding from BEST Funds with participation from existing institutional investors. Terms of the deal were not disclosed.

Earlier in the year, TeamBuy merged with its largest Canadian competitor,, to form the country’s pre-eminent online deal service. “Now that the integration is complete, we will be increasing our focus on upgrading the merchant experience” says Ghassan Halazon, CEO at “From investing in merchant facing teams and tools to introducing peripheral offerings and analytics, we are fully committed to attending to our vendors’ every need”.

TeamBuy has also actively been expanding into complimentary business models, offering additional quality content and variety for their users. The Company recently rolled out a digital flyer initiative highlighting weekly flyers & coupons from national retailers and brands. Additionally, the Company is leveraging its deep restaurant relationships and knowledge to advance into broader restaurant commerce initiatives that include (takeout & delivery), (restaurant and hospitality guide), and (discounted reservations). TeamBuy has also joined the MasterPass™ by Mastercard program to offer its customers a streamlined checkout experience while shopping. Other user experience feature upgrades are being rolled out soon.

“In less than three and a half years, we have amassed a subscriber base of three and a half million members that have transacted with thousands of our merchant partners. We believe that we are in prime position to continue to unlock new and exciting ways to connect both sides, and a portion of this funding will go towards these innovative initiatives” states Halazon.

Canada’s first deal-a-day website, was launched in Toronto in 2009 and appeared on popular reality TV Show, Dragons’ Den shortly after. Over the last three and a half years, the company has refined its group buying business model to emerge as a broader destination site that offers deals across multiple categories including on restaurants, healthy & beauty, electronics, Home, fashion, Luxury goods and general services. TeamBuy merged with in January 2013, forming the country’s largest deal website with 3.5 million members across Canada and the US. The business is backed by Insight Venture Partners, ru-Net, and Georgian Partners among others.