Fashion Investments and M&A

Date: March 2024
Buyer: General Catalyst, Voyager Ventures
Target: Packfleet
Business: Electric courier
Value: $10million
Details: Packfleet, a fully-electric parcel courier with B Corporation status, has received a $10 million investment through a Series A funding round led by VC firms General Catalyst and Voyager Ventures, with co-investors Creandum, Entree Capital and Founder Collective. Based in London, Packfleet was founded in 2021, and currently operates a fleet of 130 electric vans, employing 35 people at its head office and 100 people as drivers. The company plans to use this investment to expand - both within London and to the rest of the UK - later this year. Packfleet counts female-founded fashion resale platform HURR, and big names such as Pizza Pilgrims, among its customers.