OGOship, a Helsinki-based e-commerce logistics startup, has raised a €1.5 million seed round from Finnish investor Maki.vc to help fuel the company’s global ambitions.
The third party logistics (3PL) company allows small to medium e-retailers to store their products closer to consumers in a network of warehouses. Local storage means shorter delivery times. The service handles packaging and returns, as well.
“With all the current macro changes like new customs fees for parcels [from China], Brexit and other similar walls coming up, it is important to be able to ship locally. Consumers receive the goods as they would ordering from a nearby shop, and the merchant has huge savings in time, money and CO2,” commented Timo Toivonen, founder and CEO.
In a press release, the Finnish startup reports 46 percent year-over-year revenue growth in its home country. Last year the business expanded into Sweden and opened a warehouse in Venlo, the Netherlands. That brings the total number of European warehouses to six.
While the Nordic fulfillment company wants to be a globally recognised brand, the new funding will first go toward merchant-facing product development, helping sellers optimise storage locations, stock volumes and SKU management.