eCommerce fulfilment company Selazar has recently announced a £20 million growth investment in order to expand into Europe, the US and Latin America.
The funding is expected to signifciantly increase the company’s valuation, and it will not only help to enhance its UK network but also to help the company expand into more continents including mainland Europe and the US.
Founded in Belfast and with offices in London, Castle Donington, the firm has been on a solid growth trajectory since its launch in 2019.
Selazar has been rapidly growing in recent times and the money will allow Selazar to offer additional eCommerce fulcilment technology and financial services to customers.
This investment is the largest ever tech investment in a Northern Irish company and has been provided by a large global investment group. This money is add to the injection of cash from the initial seed investment given by Invest Northern Ireland among others in November 2019.
The global investment group financing Selazar will acquire all shares from existing investors.
Selazar will grow from a UK provider to a global fulfilment provider with new warehouses opening up in Ireland and the Netherlands, as well as four additional warehouses in the US, Mexico and Colombia.
CEO Jack Williams said “We are incredibly excited to announce this significant new investment that will see Selazar embark on the next stage of our journey and expand internationally,”
“Not only will it fund the opening of eight new warehouses, but it will also allow us to further develop our proprietary fulfilment technology and support customers trading in the UK, US, Europe, and Latin America.
“Above all, this investment separates Selazar from other third-party logistics (3PL) providers. We will be a one-stop eCommerce fulfilment shop for retailers wanting to set up business in the US, Europe, and beyond.”
Selazar is quadrupling its headcount in the next year to support its rapid growth and offer new financial services for its customers.
It has developed an eCommerce fulfilment platform and primarily services medium to enterprise-sized retailers throughout the UK at present.
As a result of Selazar’s expansion to an international eCommerce fulfilment company, customers will be able to transfer stock between international warehouses. It says this has the potential to ease some of the pain that has resulted from Brexit, as it will simplify processes and reduce costs, which is currently a friction point for larger businesses.