Delivery startup Packfleet has completed an oversubscribed seed funding round of £8m, led by Creandum.
London-based Packfleet provides the logistics technology used by food delivery platforms such as Deliveroo and Uber Eats to all forms of package delivery.
The startup’s services include live delivery tracking from a mobile device, the ability to adjust order details during the delivery in case of an address change, as well as built-in customer support chat. It claims to have a 99.9% delivery success rate.
Packfleet operates with a B2B model, providing its service to merchants that also get direct Shopify integration by using Packfleet.
In an effort toward environmentally sustainable business, Packfleet’s entire fleet of delivery vans are electric. Furthermore, the company promises to plant a tree for every delivery made.
Founded in 2021 by a team of former Monzo employees, Packfleet has generally focused on working with smaller, independent businesses. The company will now be seeking partnerships with larger retailers, following the new cash injection.
Tristan Thomas, Packfleet co-founder and CEO said: “We started Packfleet to build a world where independent businesses can compete with (and beat) Amazon and seeing the response from customers has been amazing.
“We’re creating a tech-enabled customer experience backed by green energy and fairly paid drivers.”
Gemma Bloemen, an investor at Creandum said: “Everyone who lives in the UK and has ever ordered something knows the delivery experience is broken.
“The startup is here to disrupt this market in a truly differentiated way. It has created a green delivery experience that is seamless, intuitive, and efficient for customers and merchants alike.”
Other participants in the seed funding round include General Catalyst, Entrée Capital and Founder Collective, as well as angel investors Sanne Manders, Olli Neumann, Moritz Claussen, Heini Zachariassen, Matt Robinson and Freddy Macnamara.
The company previously raised £1m in pre-seed investments back in July 2021, a round that included the co-founders of Monzo, among others.