Partner Article

Packlink secures $12.6m investment - Eight Roads Ventures leads

Packlink, the fast-growing online parcel shipping platform, has successfully raised $12.6m in Series C investment, led by Eight Roads Ventures (formerly Fidelity Growth Partners Europe). Existing investor Accel Partners and founding investor, Active Venture Partners have also participated in the round. Packlink’s total funding to date now totals $24.9m.

The Spanish startup was founded in 2012 with an ambition to become the leading global shipping API, connecting shipping providers with consumers and businesses. Packlink is growing at 100% year-on-year with operations in Spain, Germany, France and Italy. The company already integrates with more than 20 partners (DHL, UPS, TNT, etc.) offering 300 different services; its scale enables it to provide significant discounts to users. The investment will be used to further strengthen Packlink’s marketplace and eCommerce businesses.

Online merchants still struggle to offer a good user experience when it comes to shipping, with statistics showing that three of the top five consumer experience complaints relate to shipping. Ben Askew-Renaut, founder and CEO of Packlink, says: “We have built really exciting technology that lets online merchants and marketplaces offer their customers the sort of shipping experience normally reserved for large retailers, allowing them to focus on their core business. This investment will help Packlink on its path to becoming a leading provider of carrier services across Europe, giving both businesses and consumers easy access to the world of shipping and parcel delivery.”

Davor Hebel, Partner, Eight Roads Ventures, comments: “Packlink is a powerful reminder that market-leading innovation is happening right across Europe. The company’s platform is best-in-class and its commercial traction is very exciting. We are delighted to have led this funding round and to support Packlink’s future growth trajectory, sharing our expertise in building great software and marketplace businesses.”

Michiel Kotting, Partner, Accel, said: “Packlink provides an indispensable service to eCommerce companies, marketplaces, and consumers alike. It helps provide them with Amazon level logistic solutions for discount prices. It is an essential solution in an increasingly global market.”

“The Packlink team has proven an impressive ability to execute on their ambitious and disruptive vision made in Europe. We are excited about the successful internationalisation efforts supported through our partnership”, says Ricard Söderberg, Founding Partner, ACTIVE Venture Partners.

This was posted in Bdaily's Members' News section by Eight Roads Ventures .