It has been reported that Spanish package delivery and courier firm, Paack, has completed a funding round of more than €40 million - it is suggested the funding is almost an even split of capital and debt funding. Reporting the news La Información said that Infravía Capital had ‘significant weight in the transaction’ – it was previously involved in a round which Softbank led.
Founded in 2015 Paack integrates directly with e-commerce retailers, providing a system where customers can customise their delivery options. The company delivers, “several million orders per month on behalf of over 150 international clients, including 17 of the 20 largest e-commerce retailers in Spain.”
This latest round is thought to be a bridge before the firm enters profitability. Paack accumulated aggregate pre-tax losses among all its subsidiaries for just over €61 million during the past financial year, which is between 4 and 5 times more than a year earlier.
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