About B2C Fashion E-Commerce sector in Toronto, Canada
The B2C Fashion E-Commerce sector in Toronto, Canada comprises 387 companies, including 42 funded companies having collectively raised $139M in venture capital money and private equity. Out of these, 12 are Series A+ funded.
B2C Fashion E-Commerce sector in Toronto, Canada has seen 6 acquisitions and 2 IPOs.
This sector includes companies that facilitate online commerce of fashion apparel and accessories.
B2C Fashion E-Commerce sector is also known as B2C Fashion E-Commerce Solutions, Advanced B2C Fashion E-Commerce or Digital B2C Fashion E-Commerce.
Online first Fashion brands, retailers, marketplaces, product discovery platforms, etc. are included. Offline first or majorly offline fashion brands/manufactures as well as retailers are excluded.
Top B2C Fashion E-Commerce Companies in Toronto, Canada
There are 387 B2C Fashion E-Commerce startups in Toronto, Canada which include Knix, Mejuri, Bonsai, ShopThing, Northern Reflections. Out of these, 42 startups are funded, with 12 having secured Series A+ funding.
Over the past 10 years, an average of 23 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, INSEAD and University of Waterloo.
Here is the list of top B2C Fashion E-Commerce startups in Toronto, Canada
1. Knix
Knix is an internet-first brand of innerwear for women. The product catalog includes bras, underwear, sportswear, thigh saver, leakproof underwear, and more. They also offer sports socks. The company claims that its products are manufactured using moisture-wick technology, are wire-free & anti-microbial.
Key facts about Knix
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Acquired
- Total Funding till date: $58.7M
- Investors: Acton Capital, TZP Group and 10 Others
- Latest Funding Round: Series B, May 18, 2021, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 2 Competitors
2. Mejuri
Mejuri is a private label brand of jewelry. The product catalog includes rings, necklaces, earrings, bracelets, anklets, and more. The products are made using gemstones like amethyst & pearls, shells, and diamonds. Also offers digital/in-person styling advice, for which the appointments can be booked online.
Key facts about Mejuri
- Founded Year: 2013
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $29M
- Investors: New Enterprise Associates, Felix Capital and 11 Others
- Latest Funding Round: Series B, Feb 10, 2022, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 2 of 727 Competitors
3. Bonsai
Content-driven discovery and online retail platform for men fashion. The app enables users to browse editorial content curated by a network of influencers and shop from fashion brands. Brands receive monthly analytics reports that provide insights. Additional features include real-time dynamic pricing and personalized promotions and offers based on the analytics offered.
Key facts about Bonsai
- Founded Year: 2016
- Location: Toronto (Canada)
- Stage: Series A
- Total Funding till date: $22.4M
- Investors: Framework Venture Partners, Lyra Growth Partners and 5 Others
- Latest Funding Round: Series A, Mar 30, 2022, $*****
- Tracxn Score: 57/100 What is this?
- Competitors Rank: 1 of 80 Competitors
4. ShopThing
Online retailer offering fashion products on the live stream. The product offering includes clothing, shoes, bags, jewelry, etc. Users can interact with influencers by asking queries through chat. The mobile application is available for iOS users.
Key facts about ShopThing
- Founded Year: 2019
- Location: Toronto (Canada)
- Stage: Series A
- Total Funding till date: $10M
- Investors: Origin Ventures, Chaifetz Group and 2 Others
- Latest Funding Round: Series A, Mar 23, 2022, $*****
- Tracxn Score: 47/100 What is this?
- Competitors Rank: 1 of 4 Competitors
Online retailer offering casual wear for men and women. The product catalog includes tops, bottoms, dresses, skirts, jackets, etc.
Key facts about Northern Reflections
- Founded Year: 1985
- Location: Toronto (Canada)
- Stage: Acquired
- Investors: Second Avenue Capital Partners, JAMCO Capital and 1 Other
- Latest Funding Round: Conventional Debt, Apr 06, 2021, $*****
- Tracxn Score: 43/100 What is this?
- Competitors Rank: 1 of 36 Competitors
Companies founded year-on-year in the B2C Fashion E-Commerce sector in Toronto
55 B2C Fashion E-Commerce startups in Toronto were founded in 2018 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | 1 |
2024 | 2 |
2023 | 12 |
2022 | 12 |
2021 | 28 |
2020 | 51 |
2019 | 35 |
2018 | 55 |
2017 | 37 |
Stage-wise distribution of B2C Fashion E-Commerce sector companies in Toronto
Out of the total 387 B2C Fashion E-Commerce companies in Toronto, 42 have secured funding. Among them, 12 have reached Series A or higher, and 10 to Series B or beyond.
Founded - 387
Funded - 42
Series A+ - 12
Series B+ - 10
Series C+ - 9
Company Stage | No. of companies |
|---|---|
Founded | 387 |
Funded | 42 |
Series A+ | 12 |
Series B+ | 10 |
Series C+ | 9 |
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Funding Trends in the B2C Fashion E-Commerce sector in Toronto
Total funding year-on-year in the B2C Fashion E-Commerce sector in Toronto
The B2C Fashion E-Commerce sector in Toronto saw a total funding of more than $138M in the last 10 years. The most amount of funding was in 2021 at more than $64.7M.
- Total Funding
Year | Total Funding |
|---|---|
2023 | $20K |
2022 | $28.8M |
2021 | $64.7M |
2020 | $3.05M |
2019 | $29.3M |
2018 | $5M |
2017 | $2.5M |
Recent Funding Rounds in B2C Fashion E-Commerce in Toronto
In the year 2023, till June 2023, B2C Fashion E-Commerce companies in Toronto have raised $20K in equity funding across 1 round.
In the same period last year (i.e. till September 2022), B2C Fashion E-Commerce companies in Toronto had raised $28.8M across 6 rounds.
So, 2023 has seen a 99.93% drop in funding in B2C Fashion E-Commerce companies in Toronto as compared to 2022.
Here are some recent, important funding rounds in B2C Fashion E-Commerce companies in Toronto:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 4345 | 2023 | ||
Seed | 9867 | Sep 27, 2022 | ||
Seed | 3931 | Jun 15, 2022 | ||
Series A | 7322 | Mar 30, 2022 | ||
Series A | 9155 | Mar 23, 2022 |
Top Investors in B2C Fashion E-Commerce in Toronto
Plug and Play Tech Center is the top investor in B2C Fashion E-Commerce companies in Toronto based on number of companies invested.
Here are some top investors in B2C Fashion E-Commerce companies in Toronto:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | - | |
Toronto (Canada) | - | |
Toronto (Canada) | ||
Toronto (Canada) | ||
New York City (United States) | - |
M&A activity in B2C Fashion E-Commerce sector in Toronto
In the year 2025, till September 2025, 2 acquisitions happened in B2C Fashion E-Commerce sector in Toronto.
Here are some recent, important acquisitions in B2C Fashion E-Commerce sector in Toronto:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Sep 10, 2025 | ||
Business Acquisition | Jan 09, 2025 | - | |
Business Acquisition | Jul 08, 2022 | ||
Business Acquisition | Mar 24, 2021 | ||
Acqui-Hired | Sep 01, 2015 |
Acquisition trends in B2C Fashion E-Commerce sector in Toronto
Here are the acquisition trends in B2C Fashion E-Commerce sector in Toronto:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 2 |
2024 | - |
2023 | - |
2022 | 1 |
2021 | 1 |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
Colleges which produce the most B2C Fashion E-Commerce companies in Toronto
Companies founded by alumni from top colleges in the B2C Fashion E-Commerce in Toronto
Most number of B2C Fashion E-Commerce startups in Toronto have been founded by alumni from University of Toronto, INSEAD and University of Waterloo.
College | No. of companies |
|---|---|
University of Toronto | 6 |
INSEAD | 2 |
University of Waterloo | 2 |
Massachusetts Institute of Technology | 1 |
McMaster University | 1 |
Queen's University | 1 |
University of Pennsylvania | 1 |
Total funding in B2C Fashion E-Commerce companies founded by alumni from top colleges in Toronto
In the last 10 years, INSEAD and Queen's University graduates' B2C Fashion E-Commerce companies in Toronto have raised the most funding among top colleges, and University of Toronto alumni are third.
College | Total Funding |
|---|---|
INSEAD | $58.7M |
Queen's University | $58.7M |
University of Toronto | $23M |
Massachusetts Institute of Technology | $627K |
McMaster University | - |
University of Pennsylvania | - |
University of Waterloo | - |
Top News in B2C Fashion E-Commerce in Toronto
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Knix Partners with Holt Renfrew for Canada-Wide LaunchFashion Network•Apr 06, 2025•Knix, Holt Renfrew
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Knix Partners with Holt Renfrew to Grow Canadian Retail FootprintPR Newswire•Apr 01, 2025•Knix, Holt Renfrew
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Reflections Achieves ISO 42001:2023 Certification for Responsible AI ManagementPR Newswire•Feb 11, 2025•Northern Reflections
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SW Network’s Youthbeat and Bhuvan Bam Team Up with Myntra’s FWDAdgully•Dec 19, 2024•Forward With Design, Youthbeat, Myntra
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