15 September 2022, London – Sendcloud (the “Company”), the leading e-commerce shipping platform in Europe, today announced it has closed a $177 million Series C financing. The funding round was led by Softbank Vision Fund 2* with a significant strategic investment from L Catterton and participation from HPE Growth.
Sendcloud helps online businesses fully optimize their shipping process while delivering a superior end-shopper experience. As e-commerce has become the new standard, the delivery market is expected to grow from $475 billion today to $591 billion in 2024. Yet most retailers still process shipments using a single carrier, even though 71% of consumers consider flexibility a key element of delivery. Sendcloud provides the solution, offering merchants a multi-carrier platform that simplifies flexible delivery. The platform is trusted by 23,000 merchants, including Gelato, Rosefield, Shoeby and Subdued.
“At a time when consumers around the world want to decide where, when and how they want to receive a parcel, leading online merchants depend on Sendcloud to fuel their logistics process,” said Rob van den Heuvel, Chief Executive Officer and Co-founder of Sendcloud. “To engage consumers in the long term and successfully process growing parcel volumes, a multi-carrier solution like Sendcloud is essential, and we are proud to partner with Softbank and L Catterton and embark on a new chapter of growth for our business.”
Sendcloud directly manages shipments with all major European carriers, offering a wide range of shipping methods, including cross-border shipping, delivery in parcel lockers, same-day delivery, and even delivery during a day and timeslot of choice. Additionally, the Company offers access to over 400,000 service points across Europe, enabling customers to pick up their parcel at their most preferred parcel shop. Sendcloud’s technology transforms e-commerce logistics by replacing multiple Application Programming Interfaces (APIs) with a single solution, bringing a seamless delivery experience to both consumers and retailers.
“Growing parcel volume and demand for flexible delivery have increased the need for smart shipping solutions amongst 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 functionalities such as checkout, shipping, tracking, returns, and analytics. We are pleased to partner with Rob and the Sendcloud team to support their mission of fueling the next wave of e-commerce enablement.”
“Sendcloud’s scalable, intuitive, and highly localized platform is at the forefront of enabling sophisticated shipping for online merchants across Europe,” said Christopher North, Managing Partner at L Catterton. “We are excited to partner with the exceptional Sendcloud team to leverage our consumer-focused e-commerce experience and deep expertise working with high-growth technology and software businesses to drive continued innovation and position the Company for growth globally.”
Following a 133 percent annual increase in parcel volumes, Sendcloud will use this capital to further accelerate growth, continue to expand its international presence, and fuel global adoption of the platform. Sendcloud currently has 400 employees and plans to hire another 250 in the next 12 months to support the Company’s growth.
As part of this funding round, Neil Cunha-Gomes and Monika Wilk, both Investors at Softbank Investment Advisers, will join the Company’s board of directors alongside L Catterton’s Ido Krakowsky.
Arma Partners acted as exclusive financial adviser to Sendcloud in connection with this transaction.
Sendcloud is an all-in-one shipping platform for e-commerce businesses that want to scale. It is our mission to empower online retailers to compete by optimizing the full shipping journey from checkout to returns. Our solution turns e-commerce logistics from a bottleneck into an accelerator, making shipping a competitive advantage.
Founded in the Netherlands in 2012, Sendcloud has quickly become one of the fastest growing scale-ups and leading shipping solutions in Europe, with more than 23,000 customers across the UK, France, Germany, Spain, Italy, Belgium and Austria. Customers range from small to enterprise-sized online retailers and in industries from fashion and electronics to food & drink.
About L Catterton
With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.
*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.