Vancouver, BC, February 1, 2024 — Loba, an innovative health and wellness company working to advance and modernize traditional pill and supplement management through technology, today announced it has been selected as a recipient of the Pier Five x Mastercard Fund, receiving a total of $10,000 in funding ahead of its Seed Round raise.
Over 1600 applicants applied to the Fund, with only ten founders selected and two from the Vancouver startup scene. In its second year, The Pier Five x Mastercard Fund doubled the amount of funding it will provide to founders, making this the first cohort of recipients to receive $10,000 each.
Loba is the only technology startup from Vancouver that will receive funding.
“Within a few minutes of speaking with Kate [CEO and Founder of Loba], we could immediately sense her passion and drive that she had for Loba. She is reinventing a product and routine that hasn't been touched in decades and is giving something so mundane the excuse to be fun and beautiful, which we love,” said Co-founder of Pier Five, Julian Golden:
“Her emphasis on design is excellent but what stood out to us the most is Kate's long-term thinking as a business owner. She has some incredible ideas for where she wants to take the business which impressed us and of course, her dedication to keeping customers at the forefront of every action resonated with us a lot.”
“We think that Loba will soon have an impact on so many people's healthcare routines and we are thrilled to be able to support her in her journey as an entrepreneur in Canada, continued Golden”
Kate Bouchard, Loba’s Founder, will be flown out by the Fund in March 2024 to Toronto for a two-day experience with events sponsored by Mastercard.
CEO and Founder of Loba, Kate Bouchard, stated: “We’re beyond thrilled to announce being a recipient of the Pier Five and Mastercard Fund! As a women-owned business in wellness-tech, being a recipient of this program validates the hard work and dedication we've poured into growing Loba, especially over the last year since launch.
Our user base is continuing to rapidly grow and we’re seeing a predominant share of sales now coming from the US market This endorsement from Mastercard and Pier Five signifies confidence in our ongoing expansion and success, and it underscores Loba's potential to make a meaningful impact in the health and wellness market. We look forward to using these funds and those raised in our upcoming Seed Round to continue our mission and further broaden our impact!”
For access to the Official Announcement, please visit: https://www.pier-five.com/smallbusinessfund-2023-recipients
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ABOUT LOBA
Loba serves those from the health-chic to the serious with its flagship products, Loba's Smart Supplement Organizer and the Loba App, providing everyone the chance to embrace their health and wellness journey.
Headquartered in Vancouver, British Columbia and founded in 2021, today, the majority of Loba’s sales are coming from the US Market. Whether working towards specific medical goals or simply seeking a reminder for your daily supplements, Loba is your ally. For those always on the go, the Loba App will ensure your health journey is seamless and adaptable. For more information, visit: https://shoploba.com.
MEDIA CONTACT
Sarah Mawji
Final Edit Media and Public Relations
sarah@finaleditpr.com
