£56m turnover Parcel2Go wraps up growth plans with crowdfunding campaign

Bolton-based Parcel2Go, a fast-growing parcel delivery comparison website, is aiming to raise more than £500,000 on Crowdcube as part of a wider fundraising programme.

After giving an exclusive early registration period to Parcel2Go customers over the last week, the company is now offering Crowdcube’s 450,000 registered investors the chance to take part in the rapid growth of the company.

Parcel2Go has 800,000 customers and provides a range of over 20 courier companies to choose from.

Parcel2Go is enjoying strong growth, with revenue of £56m this year, compared to £5m in 2007, and a compound annual growth rate of 27% over the last 10 years.

The company has grown at 25% in the first half of this year with underlying earnings before interest and tax of £1.9m. As well as providing services direct to consumers, Parcel2Go also creates and runs websites for major carriers, including UPS, DPD and TNT.

James Greenbury, chief executive of Parcel2Go, said: “We have had numerous requests over the years to invest in Parcel2Go, but this will be the first time we will be offering shares to anyone other than the people who work at Parcel2Go. Before the opportunity to invest in Parcel2Go is made public, we decided to give priority access to our customers to invest in this Crowdcube raise as their support over the years has been tremendous. Our existing customers will continue to play a crucial role in raising awareness amongst the 10m UK parcel senders who don’t yet know about Parcel2Go.”

Luke Lang, co-founder of Crowdcube said: “Parcel2Go is a £56m revenue company and its decision to fundraise on Crowdcube is another example of how crowdfunding is recognised as a mainstream funding option for both startups and well-established growth companies.  We’re also pleased to be helping another regionally-based business to grow and offer a chance for people to get behind a regional success story.”

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