Parcel2Go, described as the UK’s largest parcel delivery comparison website, is crowdfunding on Crowdcube to raise a minimum of £500,000. The offer is said to be part of a wider fundraising program, and, after giving an exclusive early registration period to Parcel2Go customers over the last week, today is offering Crowdcube’s 450,000 registered investors to invest.
According to the offer page, P2G has already raised £306,000 from more than 400 investors. Pre-money valuation has been pegged at £40 million. The offer on Crowdcube is for a 1.23% equity stake.
P2G, based in Bolton, says it generated top line revenue of £56 million in the 2016/2017 fiscal year. Earnings before interest and taxes (EBIT) stood at £1.9 million and has grown 25% in the first 6 months of the year. P2G currently has more than 800,000 customers that may review more than 20 courier companies in the search for the best pricing.
Parcel2Go customers may drop off their parcel at any of over 20,000 shop locations, and can book 24 hours a day to send anything from a letter to a pallet. Parcel2Go is said to be especially popular with small eBay and Amazon sellers. Parcel2Go also creates and runs websites for major carriers, including UPS, DPD and TNT.
“We have had numerous requests over the years to invest in Parcel2Go, but this will be the first time we will be offering shares to anyone other than the people who work at Parcel2Go,” says James Greenbury, CEO of Parcel2Go. “Before the opportunity to invest in Parcel2Go is made public, we decided to give Priority access to our customers to invest in this Crowdcube raise as their support over the years has been tremendous. Our existing customers will continue to play a crucial role in raising awareness amongst the 10m UK parcel senders who don’t yet know about Parcel2Go.”
Luke Lang, co-founder of Crowdcube, described the crowdfunding round by Parcel2GO as a prime example of how crowdfunding has become recognized as a mainstream funding option for both startups and well established firms.
“We’re also pleased to be helping another regionally-based business to grow and offer a chance for people to get behind a regional success story.”
Crowdcube reports it has launched 70 pitches in Q3 of 2017, 3X more than the same period last year.
[clickToTweet tweet=”Crowdcube has launched 70 pitches in Q3 of 2017 3X more than the same period last year #EquityCrowdfunding” quote=”Crowdcube has launched 70 pitches in Q3 of 2017 3X more than the same period last year #EquityCrowdfunding”]
In total, Crowdcube members have invested £25.6 million in all pitches in the last quarter, with 31 successful raises closing to investment. Crowdcube’s iOS App has generated over £5.6 million in investment since launch, accounting for one in three investments on Crowdcube.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!