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Packfleet Raises £7.8M to Expand its All-Electric Courier Network

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Packfleet, a London-based startup specializing in all-electric courier services, has secured $10 million (£7.8 million) in its Series A funding round. Founded in 2021 by a team of former Monzo employees, Packfleet offers delivery solutions for various clients, including Pizza Pilgrims and Who Gives a Crap, an eco-friendly toilet paper brand.

With a focus on sustainability and innovation, Packfleet manages both the technological and operational aspects of its courier network. The company has rapidly grown its fleet to include over 100 electric drivers serving customers across London.

Tristan Thomas, CEO and founder of Packfleet, emphasized the importance of environmental responsibility in today’s business landscape. He stated, “Our merchants are increasingly seeing how their customers care about a business’s environmental credentials, and investors are no different.” Packfleet’s mission is to provide a tech-enabled courier service that benefits all stakeholders, including customers, merchants, and drivers.

The Series A funding round was led by General Catalyst and Voyager Ventures, with participation from existing investors Creandum, Entree Capital, and Founder Collective. Juliet Bailin, a partner at General Catalyst, expressed excitement about supporting Packfleet’s growth in the UK’s thriving e-commerce market.

Packfleet plans to utilize the new funding to enhance its proprietary routing software tool, Pathfinder, which optimizes delivery routes for efficiency and sustainability. Additionally, the capital infusion will fuel the expansion of Packfleet’s merchant base, enabling more businesses to leverage its eco-friendly courier services.

This funding round follows Packfleet’s successful seed round in April 2023, where the company raised £8 million. With continued support from investors and a commitment to sustainability-driven innovation, Packfleet aims to redefine the courier industry and set new standards for efficiency and environmental responsibility.

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