Sendcloud an eCcommerce shipping platform in Europe, has announced it has closed a US$177 million (£127 million) Series C financing. The funding round was led by Softbank Vision Fund 2* with a significant strategic investment from L Catterton and participation from HPE Growth.
Sendcloud helps online businesses fully optimise their shipping process while delivering a superior end-shopper experience. As eCommerce has become the new standard, the delivery market is expected to grow from US $475 billion today to US $591 billion in 2024. Yet most retailers still process shipments using a single carrier, even though 71 per cent of consumers prefer to choose who ships to them. Sendcloud offers merchants a multi-carrier platform that simplifies flexible delivery. The platform is trusted by 23,000 merchants, including Gelato, Rosefield, Shoeby and Subdued.
“At a time when consumers around the world want to decide where, when and how they want to receive a parcel, leading online merchants depend on Sendcloud to fuel their logistics process,” said Rob van den Heuvel, CEO of Sendcloud. “To engage consumers in the long term and successfully process growing parcel volumes, a multi-carrier solution like Sendcloud is essential, and we are proud to partner with Softbank and L Catterton and embark on a new chapter of growth for our business.”
Sendcloud directly manages shipments with all major European carriers, offering a wide range of shipping methods, including cross-border shipping, delivery in parcel lockers, same-day delivery, and delivery during a day and time slot of choice. Additionally, the Company offers access to over 400,000 service points across Europe, enabling customers to pick up their parcel at their most preferred parcel shop. Sendcloud’s technology transforms eCommerce logistics by replacing multiple Application Programming Interfaces (APIs) with a single solution, bringing a seamless delivery experience to both consumers and retailers.
“Growing parcel volume and demand for flexible delivery have increased the need for smart shipping solutions amongst online merchants,” said Yanni Pipilis, Managing Partner at SoftBank Investment Advisers. “Sendcloud has built a leading all-in-one shipping platform that aims to help merchants easily integrate functionalities such as checkout, shipping, tracking, returns, and analytics. We are pleased to partner with Rob and the Sendcloud team to support their mission of fueling the next wave of eCommerce enablement.”
Following a 133 per cent annual increase in parcel volumes, Sendcloud will use the capital to further accelerate growth, continue to expand its international presence, and fuel global adoption of the platform. Sendcloud currently has 400 employees and plans to hire another 250 in the next 12 months to support the Company’s growth.
As part of this funding round, Neil Cunha-Gomes and Monika Wilk, both Investors at Softbank Investment Advisers, will join the Company’s board of directors alongside L Catterton’s Ido Krakowsky.
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