Paack, the e-commerce delivery platform, has raised €200m ($225m) in its Series D funding round led by SoftBank Vision Fund 2. Paack has already established profitability in its home market and is on a clear pathway to achieve profitability across its wider European operations.
Paack currently delivers several million orders per month from 150 international clients, including 17 of the 20 largest e-commerce retailers in Spain. The company’s systems integrate directly with e-commerce sites enabling consumers to customise their delivery schedule at checkout. This is combined with Paack’s advanced last-mile robotics sorting solutions, capable of processing 10,000 parcels per hour, per site.
With existing operations in the UK, France, Spain and Portugal, the company will use this capital to accelerate implementation of new technologies, expand its coverage across more cities throughout Europe, and advance its sustainability agenda.
Fernando Benito, CEO and Co-founder of Paack, said: “We are extremely grateful for our team and our investors’ support. We know there is still room for improvement, but we have a real opportunity to lead, in the short term, the European ecommerce delivery market in terms of sustainability and convenience”.
“As the e-commerce sector continues to flourish and same-day delivery is increasingly the norm for consumers, we believe Paack is well positioned to become the category leader both in terms of its technology and commitment to sustainability,” said Max Ohrstrand, Investment Director at SoftBank Investment Advisers. “We’re excited to partner with Fernando, Xavi and the team for Paack’s next phase of growth as a tech-first disrupter, and the only carrier offering customised delivery solutions at scale across Europe”, adds.
Xavier Rosales, Co-founder and GM of Southern Europe, states: “We want to be the first company to guarantee 100% zero-emissions deliveries across Europe”.
New participants for this round also include Infravia Capital Partners, First Bridge Ventures and Endeavor Catalyst. Returning investors comprise Unbound, Kibo Ventures, Big Sur Ventures, RPS Ventures, Fuse Partners, Rider Global, Castel Capital and Iñaki Berenguer.