Eight Roads Ventures ploughs $12.6m investment into shipping platform Packlink

Successful Series C funding round for Packlink through new and existing backers.

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 investors 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.

>See also: Okta raises $75m in financing round

Ben Askew-Renaut, founder and CEO of Packlink, said the company has built “really exciting technology that lets online merchants and marketplaces offer their customers the sort of shipping experience normally reserved for large retailers”.

“It allows 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,” he continued.

Davor Hebel, partner at Eight Roads Ventures, added: “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.”

Further reading: TotalMobile wins Lyceum Capital backing

Praseeda Nair

Praseeda Nair

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

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Series C funding