Huboo raises £60 million for its e-commerce fulfillment platform
Today, Huboo the UK e-commerce and fulfillment startup has managed to raise another £60 million on top of the previously raised £14 million last September, to grow their platform on another level as well as expand into Europe. The round was led by Mubadala Capital and joined by existing investors including Stride, Ada Ventures, Hearst Ventures, Episode 1 and Maersk Growth, taking the company’s total capital raised to nearly £80 million since April 2019.
Founded in 2017 Huboo helps e-commerce retailers to scale and succeed by taking care of their fulfillment needs. This allows for more time to do what retailers do best – growing their business. Growing from one warehouse in Bristol to four fulfillment centers across the UK, the startup recently opened a site in the Netherlands. The firm has acquired over 1,000 customers to date, helping both smaller and larger e-commerce brands with a number of issues including logistics, warehousing, inventory management, and shipping.
“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can set up an online store-front and start selling within hours, the infrastructure powering e-commerce is alarmingly outdated, inefficient, inflexible and expensive.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 fulfillment piece so that online retailers of all sizes – from part-timers to fast-growth D2C leaders – can benefit.” commented CEO and Co-founder Martin Bysh.
Leveraging an API approach, Huboo integrates with Amazon, eBay, Shopify, and a wide range of other marketplaces and gives clients a single dashboard to manage their inventory and view and track orders in real-time.
Bysh also explained: “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 fulfillment, our goal is to enable seamless, borderless trade for e-commerce businesses of all sizes,”
Source: Huboo.co.uk “Huboo land £60m investment in Series B funding”