My Parcel Delivery secures £2m investment package
My Parcel Delivery has announced today (23 June) that it has secured a £2m investment package. This latest round of funding for the parcel delivery comparison website is in addition to the £1.5 million raised in 2014.
The latest fundraise, led again by Manchester-based Praetura Capital includes follow-on investors, Seneca Partners, as well as the introduction of funding from the Greater Manchester Combined Authority (GMCA) which is linked to job creation in the region.
The company said that “the funding will be used predominantly to support the development and launch of Electio, a brand new delivery management SaaS platform for the retail industry – details of which will be announced soon – as well as to strengthen the My Parcel Delivery website, which was re-launched in March this year”.
My Parcel Delivery will now be positioned within a newly formed parent company, MPD Group, which will also house the forthcoming Electio brand.
David Grimes, the founder of My Parcel Delivery and CEO of the newly formed MPD Group, said: “This additional investment has made it possible for us to go ahead with a complete restructure of the Group, allowing us to invest heavily in the technology and expertise that will ensure our new software venture, Electio, is a success, as well as seeing the My Parcel Delivery website continue to grow at over 40% per year.”
Mike Fletcher, founding partner of Praetura Capital and chairman of MPD Group said: “My Parcel Delivery has shown that its technology and services are tapping into a growing e-commerce delivery market that is ready for something new. The growth figures alone reveal that the company is offering customers what they want, and we are very excited about the launch of Electio which we expect to shake up the delivery industry further.”
