This week Huboo, the award-winning multichannel ecommerce fulfilment provider, announced that following the close of Series B funding, led by Mubadala, we have raised £60m ($82m) in investment.
The funding comes on the back of their exponential growth driven in part by a step change in eCommerce penetration over the past two years.
The investment will help propel our expansion across continental Europe, having already opened our first mainland European base in Eindhoven, The Netherlands and soon to be opening our first Spanish fulfilment centre in Madrid.
Growing eCommerce Fulfilment demand
The raise comes after an incredible 24 months of growth which has seen the company’s revenues grow 10x in 2020. The round was led by Mubadala Capital and joined by existing investors including Stride, Ada Ventures, Hearst Ventures, Episode 1 and Maersk Growth, and takes Huboo’s total funding raised to nearly £80 million ($104m) since April 2019.
The great news for their new and existing customers is that they’ll have a more physical presence across continental Europe than ever before. For existing customers, that means you can choose to fulfil orders from fulfilment centres in overseas countries, so that you’re closer to your global customers for speedy and reliable shipping.
Commenting on the latest raise, Martin Bysh, CEO & Co-Founder says, “Scores of new and existing retail businesses now see their future in e-commerce, but while anyone can set up an online store-front and start selling within hours, the infrastructure powering e-commerce is alarmingly outdated, inefficient, inflexible and expensive.
“This is the problem we’ve set out to address with our hub model, which brings flexibility and affordability to the incredibly complex fulfilment piece so that online retailers of all sizes – from part-timers to fast-growth D2C leaders – can benefit.
“We’re thrilled to have Mubadala on-board and are looking forward to developing our plans. This raise enables us to roll out our proposition on a wider international scale, as well as expand our service offering, continue our software development and further invest in our growing team. By taking care of the complexity of fulfilment, our goal is to enable seamless, borderless trade for e-commerce businesses of all sizes.”
Fatou Bintou Sagnang, Partner at Mubadala Capital Ventures adds, “Huboo’s product solves one of the most critical pain points for e-commerce companies – while order fulfilment is a core function for these companies, it is not part of their core competency. By combining logistics with a user-friendly software platform, Huboo delivers a superior fulfilment experience and allows businesses of all sizes to continue focusing on core activities such as product development, while managing growing demand from their customers.”
Shona Wright
Shona covers all things editorial at TechSPARK. She publishes news articles, interviews and features about our fantastic tech and digital ecosystem, working with startups and scaleups to spread the word about the cool things they're up to.
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