Removals marketplace entrepreneur secures £2.5m investment with London VC fund

An on-demand removals marketplace allowing consumers and businesses to move items using its network of drivers has received backing from London VC fund Fuel Ventures.

The fund, which recently raised £20m in its third round, has invested £1.3m in Shift, while other angel investors supported the company with an extra £1.2m.

Entrepreneur Jacob Corlett launched the online platform, Shift - dubbed ‘Uber for removals’ - in February 2018. He expanded on the success of his own home removals and logistics business, which he began at 17.

Jacob said: “My first company was a ‘man and van’ removals service. I started the business when I was just 17-years-old and built it from the ground up, but as disruptive apps and companies like Uber, Airbnb and Deliveroo began to gain popularity, I saw that my customers’ expectations were changing.

“I decided to apply the same business model to the removals market, and that’s where Shift started. In just over one year, we have achieved an annual turnover of £1.7m and attracted a network of self-employed drivers.”

Shift offers customers an on-demand, bespoke service to move anything from a single table to a full home or office, at any time of the day.

The online platform combines technology with intelligent algorithms in real-time to find the most suitable driver or delivery service for each job from its UK-wide network, giving customers complete flexibility to work around their schedules.

At present, Fuel Ventures is investing at the rate of one company a month, setting aside up to £2m per portfolio company.

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