Firmament Completes Investment in E-Commerce Shipping Platform and Multi-Carrier Shipping Software Provider ParcelHero
LONDON, Nov. 4, 2021 /PRNewswire/ -- Firmament, a leading provider of tailored capital solutions to small and medium-sized enterprises (SMEs), announced today its investment in ParcelHero Group Ltd. (or "ParcelHero"), a leading e-commerce shipping platform and provider of multi-carrier shipping software to enterprises and consumers, offering domestic and international shipping options via the largest selection of carrier partners in the United Kingdom. Westbrooke Alternative Asset Management ("Westbrooke") partnered with Firmament as a co-investor in the transaction.
ParcelHero's technology allows businesses of all sizes to optimize shipping expenses and automate previously analog logistics processes. This significant investment will help fund the ongoing development of the leading B2C software platform and a new B2B capability, which will enable retailers to manage multiple carrier relationships through a single platform.
ParcelHero is led by founder and industry veteran, Roger Sumner Rivers, who possesses 25 years of relevant experience in the logistics technology space. Mr. Sumner Rivers shared his thoughts on the investment, "We are delighted to have Firmament and Westbrooke alongside us as we finalise development of what we believe is a truly differentiated and market leading carrier management platform, releasing to retailers in Q1 '22. Both parties are experienced in working with logistics technology businesses and will be great partners to ParcelHero in the future."
Ted Wong, Principal at Firmament, remarked, "We are thrilled to partner with Roger and the entire ParcelHero team to capitalize on the numerous industry tailwinds within the multi-carrier shipping software industry. As an established supply chain investor, we are committed to providing the capital solutions necessary for the ParcelHero team to grow and further develop its robust technology suite."
Marion Bernard, Principal – UK Managing Director at Firmament, added, "ParcelHero is a successful and rapidly growing U.K.-based business, and we are delighted to partner with Roger and his team to support their continued growth across the U.K. and globally."
Financial terms of the transaction were not disclosed. ParcelHero was advised by Alantra, led by Robert Young and Irwin Mitchell, led by Akhil Sharma. Firmament was advised by Osborne Clarke led by Hugh Jones.
About ParcelHero
ParcelHero (www.parcelhero.com) provides multi-carrier shipping software solutions to enterprises and consumers across the United Kingdom. ParcelHero is the only parcel delivery comparison site in the U.K. to have domestic and international shipping agreements with all major couriers, enabling them to offer a diverse range of parcel shipment options to its customers.
About Firmament
Firmament (www.thefirmamentgroup.com) provides tailored capital solutions to small- and medium-sized enterprises. Firmament is a value-added partner to entrepreneurs, management teams and business owners and curates solutions by deploying versatile capital in a user-friendly way. Firmament concentrates on software and services businesses with significant scaling potential in the healthcare, logistics, wellness and environmental sectors. With offices across the United States and in the United Kingdom, Firmament is focused on turning small business into big business.
About Westbrooke
Founded in 2004, Westbrooke (www.westbrooke.co.za) was established as a multi-asset, multi-strategy manager of alternative investment funds and products. Westbrooke invests and manages capital in multiple geographies on behalf of its shareholders and investors in private equity, venture capital, private debt, hybrid equity and real estate.
In the U.K., Westbrooke builds strong relationships with entrepreneurs, management teams and private equity houses, providing flexible and agile financing solutions to growing companies with EBITDAs between £1M - £10M. Westbrooke focuses on providing intermediate capital and preferred equity on either a standalone basis or as part of an integrated finance structure, tailored to each client's needs.
CONTACT: Allie Reitman, media@thefirmamentgroup.com
SOURCE: Firmament
Related Links: http://www.thefirmamentgroup.com/
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