loopt™ Closes $1.7 Million Investment to Power Retailers to Enter the Circular Economy
Summary
TORONTO, May 11, 2021 /CNW/ - This morning, loopt™, a Toronto-based software company that powers the circular economy across retail verticals, announced that it has raised a $1.7 million pre-venture seed financing that was led by Columbus Capital with support from Kirsten Chapman, former President of Indigo Canada and existing investors Gemini Waghmare, Jay Deen and Jeff Smith. loopt™ will use the funding to continue development of its proprietary platform that enables retailers to participate in the circular economy via fully customizable rental subscription programs. "The pandemic has pushed brands to take a critical look at evolving their channel strategy to win with new shopping realities, but also how innovation can deliver on corporate sustainability goals. The future of retail will lie in a brands ability to successfully marry digital and sustainable practices which can be achieved through the circular economy. This announcement marks the third successful financing round for loopt™ as the company continues to expand its platform offering within the circular economy.