Bolton comparison site Parcel2Go launches six-figure crowdfunding campaign

Parcel delivery comparison website Parcel2Go has launched a six-figure funding round.

The Bolton-headquartered firm is looking to raise a minimum of £500k through crowdfunding platform Crowdcube.

Having given its customers an exclusive early registration period during the last week, Parcel2Go is now offering Crowdcube’s 450k registered investors a chance to take part in its rapid growth.

Parcel2Go achieved revenues of £56m in its latest financial results – up from £5m in 2007. Underlying earnings during the first half of this year, before interest and tax, stood at £1.9m.

Over the last 10 years, the firm has experienced a compound annual growth rate of 27%.

Parcel2Go enables users to choose from over 20 couriers and drop parcels off at any one of more than 20k shop locations.

CEO James Greenbury said: “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.

“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.”

He added: “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.”

Crowdcube co-founder Luke Lang commented: “Parcel2Go is a £56m-revenue company and its decision to fundraise on Crowdcube is another example of how crowdfunding is recognised as a mainstream funding option for both startups and well-established growth companies.

“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.”