Member Article

£2m funding package for Manchester’s My Parcel Delivery

My Parcel Delivery, the Trafford-based parcel delivery comparison website, has announced that a £2.0m investment package has been raised in addition to the £1.5m already secured for the company in 2014.

The additional funding was led by Manchester-based Praetura Capital and included follow on investors, Seneca Partners and funding from the Greater Manchester Combined Authority (GMCA).

The funding will be used to support the development and launch of Electio, a new delivery management SaaS platform for the retail industry as well as improving the My Parcel Delivery website.

The company, My Parcel Delivery, will now be positioned within a newly-formed parent company ‘MPD Group’, which will also house the forthcoming Electio brand.

CEO of the newly formed MPD Group, David Grimes, 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.

Founding partner of Praetura Capital and chairman of MPD Group, Mike Fletcher, 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.”

The company received legal advice from Gateley LLP as part of the fundraise process.

This was posted in Bdaily's Members' News section by Sophia Taha .