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Prepared meal company WeCook has raised CAD 7 million ($5.5 million approx.) in a financing round to accelerate its growth.

Founded in 2013, WeCook offers ready-to-eat, home-delivered meals across Quebec and Ontario.

The company's new financing was led by Desjardins Capital, which has increased its stake in WeCook with an equity investment for the second time in a year.

The round also received participation from private investors, as well as National Bank's technology and innovation banking group, which provided debt financing.

“I'm excited about the interest generated by this round of financing as WeCook becomes even more successful in Quebec and sees tremendous sales growth in Ontario, less than a year after we launched our operations in that province,” said Étienne Plourde, founder and CEO of WeCook.

“We're staying focused on our goal of becoming the largest company in Canada's home-delivered, ready-to-eat meals sector, which includes expansion into Western Canada in 2022.”

Marie-Hélène Nolet, chief operating officer of Desjardins Capital, added: “We're proud to continue our association with WeCook, whose operational and financial performance is quite remarkable.

“Disciplined execution of its business strategy and the ability to produce definitive results reflect the strong skills and rigorous approach of the two young entrepreneurs leading the company as well as their extensive knowledge of food processing and digital marketing.”