Zyla Client PACKFLEET RAISES $10m in Series A FUNDING
A London-based logistics startup and Zyla Accountants client founded by former Monzo employees has raised $10 million in Series A funding.
General Catalyst and Voyager Ventures led the round, which also included Creandum, Entree Capital and Founder Collective as investors.
Three former Monzo employees founded Packfleet in 2021, including former VP of Design Hugo Cornejo, VP of Marketing and Communications Tristan Thomas, and engineering manager Josh Garnham. The company operates a fleet of "carbon neutral" courier vans that service businesses like Pizza Pilgrims and Who Gives a Crap.
“Our merchants are increasingly seeing how their customers care about a business’s environmental credentials, and investors are no different,” Thomas explains in a press release. “When we founded Packfleet, we set out to create a tech-enabled courier service that made deliveries better for everyone – not just customers, but merchants and drivers too.”
The delivery startup will use the funds to expand beyond London, where it grew 5x last year, as well as other cities in the UK. The startup will also use the capital to develop its proprietary routing software, Pathfinder, which the company says has been key to its success.
A pre-seed round was raised by Packfleet in 2021, which included Monzo cofounders Tom Blomfield and Jonas Huckestein. A funding round led by Swedish VC firm Creandum raised £8 million last April.
Founders like Packfleet are part of a growing group of former Monzo employees who are setting up their own businesses. The neobank has produced 17 second generation startups so far, according to a report by Accel and data platform Dealroom.
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