Integer.pl raises €53m to fund parcel locker business

Polish parcel shipping company Integer.pl Group has raised around EUR 53m to finance the expansion of its self-service parcel locker terminals business in Europe, Asia and North America.
The company raised about PLN 222m in a private share placement with Polish and international investors.

The Group’s largest shareholder, A&R Investments Ltd offered up 882,862 shares to raise the funds, with the company stating that the shares went to fewer than 150 investors.

Rafał Brzoska, the Group chief executive, said the shares went mainly to foreign investors, and that demand had exceeded the available shares.

“The funds raised will be used for the development of our networks of easyPack machines in Europe, Asia and North America,” he said.

“Currently we have more than 800 easyPack machines in the UK, including machines in the London Underground. We entered the Italian market with partners including the largest e-commerce platform, Banzai, and TNT Express Italia. And we have finalized a contract for the installation of easyPack machines in Hong Kond.

“We are also at an advanced stage of negotiations with partners in more countries on most continents. Finalisation of the next round of funding was an important step necessary for our further dynamic development.”

easyPack

Integer.pl Group, one of the largest private sector mail delivery challengers to Polish Post in its home nation, and was listed on the Warsaw Stock Exchange in 2007.

The Group’s self-service “easyPack” parcel locker terminals provide an unmanned parcel drop-off and collection point that can be used 24 hours a day as an alternative delivery point for parcels including online purchases. Consumers are emailed or texted a unique code with which to access the secure locker into which their parcel has been delivered.

So far the machines have been installed, or are in the process of being installed in Saudi Arabia, Australia, Chile, Great Britain, Italy, Ireland, Iceland, Lithuania, Latvia, Ukraine, Estonia, Russia, Cyprus, Slovakia, the Czech Republic, Colombia, Costa Rica, El Salvador and Guatemala.

Integer.pl Group formed a joint venture with investment firm PineBridge back in 2012 with the aim of expanding its network in Europe to 16,000 by 2016. Halfway through the target time, the company says it now has 3,500 machines installed around the world, and plans to commission a further 10,000. The company also states that it is in the process of acquiring 6,000 locations for the next phase of its expansion.