Manchester-based investor Palatine has taken a majority stake in fulfilmentcrowd, a cloud-based logistics agency from Lancashire.
Fulfilmentcrowd has developed a platform for omnichannel retailers to outsource their end-to-end logistics and fulfilment processes to.
This consists of the receiving of products, packing, dispatching and supply.
“The fulfilmentcrowd platform allows bold omnichannel manufacturers to simplify and scale their international logistics operations. We flex our know-how, experience and repair supply mannequin to ship options that create aggressive benefit,” mentioned Lee Thompson, chief govt of the corporate.
The funding marks the primary constituted of Palatine’s not too long ago closed £254m Buyout Fund V that targets mid-market companies in enterprise providers, tech and finance.
“We’re very excited to be backing this entrepreneurial administration crew at fulfilmentcrowd. They’ve performed a superb job in constructing a market-leading, asset-light tech firm,” mentioned Tom Wildig, senior funding director at Palatine.
“Leveraging our expertise in tech providers alongside our sector-leading strategy to ESG, we look ahead to supporting CEO Lee Thompson and the remainder of the crew to speed up development and obtain their aim of turning into the world’s primary fulfilment platform for omnichannel manufacturers.”
The deal can also be a partial exit for BGF, which backed fulfilmentcrowd in 2021.
This information comes after Palatine not too long ago acquired a majority stake in Atombit Group, an expertise intelligence agency based mostly in London.
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