Startup Shipment Sendcloud Notches $ 177M

European e-commerce shipping start-up Sendcloud has closed a $ 177 million Series C funding round led by SoftBank Vision Fund 2, with strong backing from L Catterton and participation from HPE Growth.

Based in the Netherlands, with an office in Belgium, Sendcloud offers a flexible all-in-one e-commerce shipping platform that provides its 23,000 retailers with a multi-operator solution that streamlines options.

With a 133 percent increase in annual parcel volumes, Sendcloud said in a Press release that it plans to use the new capital to increase its global presence. The company also plans to add 250 new employees to its current workforce of 400.

See also: Glovo delivery platform acquires Spanish and Portuguese companies

The company was founded in 2012 by Rob Van Den Heuvel, who is the CEO of the company; Bas Smeulders, Chief Financial Officer; and Sabi Tolou, commercial director.

As part of Series C, SoftBank Investment Advisers Neil Cunha-Gomes and Monika Wilk will join the Sendcloud board alongside Ido Krakowsky of L Catterton.

“At a time when consumers around the world want to decide where, when and how they want to receive a package, leading online merchants depend on Sendcloud to power their logistics process,” said van den Heuvel.

“To engage consumers over the long term and successfully process increasing parcel volumes, a multi-operator solution such as Sendcloud is essential,” he added.

See: Salesforce, FedEx Ink Multi-year logistics partnership for online merchants

The acceleration of e-commerce has triggered an exponentially rapid expansion of the delivery market, with growth expected to reach $ 591 billion in 2024, from $ 475 billion today. Most traders rely on a single carrier for shipments, however, a recent Sendcloud to study showed that 71 percent of buyers indicated flexibility is an important part of delivery.

“The growing volume of packages and the demand for flexible delivery have increased the need for smart shipping solutions among 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 features like payment, shipping, tracking, returns and analytics,” Pipilis added.

You can also enjoy: The start-up Olive sets up in the beauty space of sustainable delivery without packaging

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