Toronto-based business to business e-purchasing services company Firmbuy Inc. announced on May 1, 2000 that it has raised $22 million in pre-IPO financing. The financing was raised from a diverse group of institutional and strategic partners throughout Canada, the U.S. and Europe and was led by Yorkton Securities Inc. This was Firmbuy’s third round of financing in Canada and the United States to market its business-to-business web-based procurement services launched earlier this year.
Torys acted for Yorkton Securities with a team that included Jay Duffield, Sophie Boulakia, and Melanie Blair in Toronto, and Andy Beck, Alexandra Kau and Geoff Gilbert in New York. The Ottawa office of Fraser Milner acted for Firmbuy on the offer, with a team led by David Little and that included Andrea Johnson and Stephen Cross.