Manchester-based investor Palatine has taken a majority stake in fulfilmentcrowd, a cloud-based logistics firm from Lancashire.
Fulfilmentcrowd has developed a platform for omnichannel retailers to outsource their end-to-end logistics and fulfilment processes to.
This includes the receiving of goods, packing, dispatching and delivery.
“The fulfilmentcrowd platform enables ambitious omnichannel brands to simplify and scale their global logistics operations. We flex our technology, expertise and service delivery model to deliver solutions that create competitive advantage,” said Lee Thompson, chief executive of the company.
The investment marks the first made from Palatine’s recently closed £254m Buyout Fund V that targets mid-market firms in business services, tech and finance.
“We are very excited to be backing this entrepreneurial management team at fulfilmentcrowd. They have done an excellent job in building a market-leading, asset-light tech company,” said Tom Wildig, senior investment director at Palatine.
“Leveraging our experience in tech services alongside our sector-leading approach to ESG, we look forward to supporting CEO Lee Thompson and the rest of the team to accelerate growth and achieve their goal of becoming the world’s number one fulfilment platform for omnichannel brands.”
The deal is also a partial exit for BGF, which backed fulfilmentcrowd in 2021.
This news comes after Palatine recently acquired a majority stake in Atombit Group, an experience intelligence firm based in London.
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