Belfast-based Selazar, a fast-growing e-commerce fulfilment company, has announced that it has pocketed £20 million in growth investment. With this investment, the valuation of the company has increased.
Global expansion plans
The new investor, who has not yet been named, will buy the shares of existing local shareholders who will see a five-fold return on their money. The new capital injection adds to an initial seed investment from Foresight Group, Invest Northern Ireland and angel investors in November 2019. It marks a milestone for Selazar that will see it transition from the UK to a global fulfilment provider.
The company will use the investment to enhance its UK network and fund its expansion into Europe, the US, and Latin America. Also, the funding will see Selazar offer additional e-commerce fulfilment technology and financial services to customers.
This marks the largest ever tech investment in a Northern Ireland company and will let Selazar open new warehouses in Ireland and the Netherlands, followed by four additional warehouses in the United States and one each in Mexico and Colombia.
Besides this, Selazar will quadruple its headcount in the next year to support its rapid growth and offer new financial services for its customers.
Commenting on the new capital investment, Jack Williams, CEO of Selazar, said: “We are incredibly excited to announce this significant new investment that will see Selazar embark on the next stage of our journey and expand internationally. Not only will it fund the opening of eight new warehouses, but it will also allow us to further develop our proprietary fulfilment technology and support customers trading in the UK, US, Europe, and Latin America. Above all, this investment separates Selazar from other third-party logistics (3PL) providers. We will be a one-stop eCommerce fulfilment shop for retailers wanting to set up business in the US, Europe, and beyond.”
International e-commerce fulfilment company
Selazar, founded in Belfast and with offices in London, Castle Donington and the US, Mexico, and Colombia opening soon. The company has developed a highly innovative proprietary eCommerce fulfilment platform and primarily services medium to enterprise-sized retailers throughout the UK at present.
As a result of Selazar’s expansion to an international e-commerce fulfilment company, customers will be able to transfer stock between international warehouses. This has the potential to ease some of the pain that has resulted from Brexit, as it will simplify processes and reduce costs, which is currently a friction point for larger businesses.