VC-backed BorderFree to go Public
Borderfree, a market leader in international cross-border ecommerce solutions, has reportedly filed confidentially for an initial public offering (IPO), according to Dow Jones.
Credit Suisse and RBC Capital Markets are acting as lead underwriters for the offering.
Borderfree has raised over US $39 million from backers including Canaan Partners, On-Line Ventures, Pitango Venture Capital, Seyen Capital, Delta Ventures.
Borderfree, formerly FiftyOne, acquired Toronto based BorderFree Ltd. from Canada Post in 2012 and adopted current name in 2013.
Founded in 1999, Canada Post acquired BorderFree in 2002 from Brightspark Ventures, Mosaic Venture Partners, Ontario Teachers’, and Torstar for undisclosed amount.