Barcelona-based e-commerce delivery startup Paack has raised $53M (nearly €44.7M) Series C funding in a round led by Bregal Milestone along with participation from existing investors such as RPS Ventures, Fuse Ventures, Unbound and Rider Global. It will use this Investment to leverage Bregal Milestone’s strategic support and accelerate its expansion across Spain as well as Europe.
Apart from the investment, Jan Bruennler, the Bregal Milestone Managing Partner and Rob Hetherington, the Head of Milestone Performance Partners, which is Bregal Milestone’s in-house portfolio value creation team have become the members of Paack’s board. Notably, this is the eighth investment from Bregal Milestone’s fund worth €495M. Also, it is the first transaction made by the fund in Spain.
Last-mile e-commerce delivery platform
Founded by Fernando Benito, Xavier Rosales, Victor Obrados, and Suraj Shirvankar in 2015, Paack claims to be a leading provider of scheduled, next-day and same-day delivery solutions in Europe. As per the company, its original team was established in Barcelona, but Paack was developed in Dubai by a group of international engineers.
As of now, the company operates across Spain, France, Portugal and the UK and it claims to be one of the fastest-growing companies in Spain with over 3x growth on a year-on-year basis. It delivers several orders per second along with an operational network of over 60 cities along with more than 3,000 delivery partners.
According to the company, it’s also working towards reducing its carbon footprint. Paack claims to be the first UK logistics business to sign the UNFCCC (United Nations pledge for carbon neutrality): ‘Climate Neutral Now!’
It is already delivering all parcels in the UK at carbon net-zero and operates one of the biggest electric vehicle distribution networks to make environmentally friendly deliveries.
Paack has a team of over 240 employees and provides clients with a complete eco-system of end-to-end operations and products, offering warehouse management, fulfilment, and delivery applications, as well as retailer systems and checkout integrations. Headquartered in Spain, this startup has regional operations in the UK, France, and Portugal.
Main image picture credits: Paack