MPD Group secures £3.85m development capital investment
Manchester-based MPD Group has announced an additional £3.85m development capital fundraise. In a statement sent to Post&Parcel today (5 May), MPD Group said the new capital will be used to continue the development of its Electio delivery management platform and also help to grow the My Parcel Delivery site.
The deal follows MPD’s most recent fundraise in early 2015. This latest deal was led by NVM Private Equity, which invested £2.5m, with Praetura Capital and Seneca Partners following their money.
In addition, GMCA has increased its debt funding in order to offer continued support to the Group as it looks to double its workforce over the next 12 months.
MPD has recently relocated from Trafford Park to its new city centre location in Manchester, in order to accommodate the growth plans.
Founder and CEO of MPD Group, David Grimes commented: “I’m extremely honoured to be able to announce this latest round of funding, which brings us to a total of £6.5m raised since 2013. It will be crucial in the development of Electio in particular as we continue to make huge strides in shaking up the delivery industry.”
