- CIBC Innovation Banking announced it provided $1 million in growth capital financing for Sampler
CIBC Innovation Banking announced it provide $1 million in growth capital financing for Sampler. And the debt capital follows a recent Series A equity raise and is structured to support Sampler’s growth plans across North America and Europe.
“I think it’s important for startups to realize that there are other financing options than equity financing,” said Sampler CEO Marie Chevrier. “With CIBC, Sampler has been able to leverage our revenue in a way that will allow us to accelerate our growth and expand into new markets.“
Sampler — which is headquartered in Toronto and has offices in New York and Chicago — is known as a leading direct-to-consumer product sampling platform that manages product sampling programs for consumer packaged goods companies. Sampler is used by more than 300 brands in more than 24 countries and reached over 50 million consumers globally. And some of its most notable clients include CPG industry giants Unilever, Henkel, and Kimberly Clark.
“Sampler’s end-to-end digital platform gets product samples into the hands of the target audience both quickly and effectively,” added CIBC Innovation Banking Executive Director Amy Olah. “Leading CPG’s no doubt appreciate a direct ROI on their campaigns versus a random freebie that traditionally is difficult to value.”
