BDC Supports Tuangru with Long-Term Financing

Tuangru, a group buying company for servers and IT hardware, today announced it has successfully obtained long-term financing from the Business Development Bank of Canada (BDC). Exact terms of the seven-year agreement are undisclosed.

Tuangru qualified for the BDC startup financing program, which provides support to entrepreneurs who can demonstrate realistic market potential, posses domain expertise, have assembled a competent management team, and demonstrate key personal characteristics of a successful entrepreneur.

"The BDC financing is a validation of our group buying business model and, more importantly, a belief in our people," said Jad Jebara, President & CEO, Tuangru. "We are thankful to have their long-term support. We now have the ability to ramp up our service offering and the development of our SaaS platform."
"We are impressed with the strength of the management team and the depth of industry knowledge," said Geoff Devereux, Account Manager, BDC. "They have a clear vision of the market potential for their offering and we’re excited about their growth prospects."

About Tuangru
Tuangru is a group buying company based in Vancouver, British Columbia that specializes in aggregating demand from small and medium-sized IT clients to earn higher volume discounts from preferred IT hardware suppliers like Dell® and Quanta Computer®. By purchasing through Tuangru, a hosting service provider or XaaS client increases their bargaining power overnight and realizes immediate cost savings on servers, storage and network devices. The company also offers Green Reverse Logistics services–electronics recycling, electronics remarketing and data destruction–to maximize a client’s recovery value on end-of-life servers while minimizing any negative impact on the environment. For more information, visit: www.tuangru.com.

About BDC
Canada’s business development bank, BDC puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital, securitization and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada’s economic prosperity.