TORONTO – Smartphone and tablet repair company Mobile Klinik has closed an equity capital funding raise of CAD $27.5 million as it forges ahead with its planned rollout of 200 Canadian stores by 2022.
The financing was led by a number of investment funds and includes a minority investment by the Canadian Business Growth Fund (CBGF), as well as private individuals, including several of the company's founders and early-stage investors. The investment brings total funding for Mobile Klinik to date to $44 million.
"We're committed to meeting Canadians' needs for professional, warrantied, while-you-wait smartphone and tablet repair, care, sales and service from coast-to-coast-to-coast," said CEO Tim McGuire, in the news release. "This investment is a significant recognition of Mobile Klinik's leadership in the Canadian smartphone repair market and the growth we will achieve as we extend our network across the country."
Launched in 2015, Mobile Klinik is Canada's largest and fastest-growing professional while-you-wait smartphone and tablet repair, care, sales and services retail chain with 50 stores in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, Québec, New Brunswick, Newfoundland and Labrador.
