E-commerce delivery startup Paack has secured a $53 million Series C funding round led by Bregal Milestone, with participation from the current investors Unbound, RPS Ventures, Rider Global, and Fuse Ventures. This transaction brings the total amount raised by the startup to over $80 million.
Founded in 2015, Paack provides a delivery platform for the likes of Amazon, Decathlon, MediaMarkt, and others. It's active in over 60 cities in Spain, UK, France, and Portugal, and works with more than 3,000 local delivery partners. The startup expects to reach €50 million in sales this year.
Paack plans to use the fresh capital to expand its delivery coverage, as well as invest in “operational efficiency,” per the company's statement. At the moment, it has a team of more than 240 employees.
The deal marks the eighth investment from the €495 million fund managed by the London-headquartered Bregal Milestone. It is also its first transaction in Spain.
Featured image credit: GreenMo UK