Well.ca, Canada’s largest online non-prescription drugstore, receives significant financing from Maple Leaf Angels enabling it to maintain its leadership in the growing online Canadian drugstore market. Partnering with Maple Leaf Angels in this investment is Jim Estill, CEO of SYNNEX Canada. “Well.ca has positioned itself to dominate the online drugstore market in Canada,” said Estill. “I believe they have the potential to change the way Canadian consumers purchase their health and beauty necessities.”
Building on his knowledge of the drugstore business gleaned from his pharmacist father, Ali Asaria, 27, founded Well.ca in September, 2007 to provide consumers with the convenience of online shopping for drugstore products. Headquartered in Guelph, Ontario, Well.ca provides a vast selection of over-the-counter medications, medical supplies, skin care products, cosmetics, and more at cost effective prices. All are shipped directly to the customer’s home for just $3. The company provides convenience for busy moms, extensive selection for rural customers, and privacy for those seeking personal products. Well.ca is growing at a rate of 35% per month, lists over 10,000 products online, and receives more than 100,000 hits per day.
“Accepting this investment means that we can continue to reach more Canadians, and expand the service that so many have already grown to love,” said Asaria. “With this investment, we’re proud to be bringing on a set of accomplished technology entrepreneurs to our board.”
Retail health is a $29.5 billion dollar industry in Canada. While there are several successful online drugstores in the United States, including drugstore.com [NASDAQ: DSCM] and Walgreens [NASDAQ, NYSE: WAG], Well.ca is the first Canadian focused company to serve this market, and it is one of the fastest growing ecommerce companies in Canada.
About the Maple Leaf Angels
Maple Leaf Angels, based in Toronto, is composed of seasoned, high net worth private investors from a wide variety of backgrounds who bridge the gap between entrepreneurs and capital. The relationship between Maple Leaf Angels and companies they partner with is powerful, helping innovative companies find the capital they need to grow their company. Since inception in 2007 this group has invested $4 million in 9 high growth companies.
For more Information Contact:
Rob Koturbash, Managing Director
Maple Leaf Angels
P: 416-368-8770 x230 - E: rkoturbash[.]mapleleafangels.com.