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Electric courier startup Packfleet raises £7.8m

Packfleet courier
Image credit: Packfleet

Packfleet, a London-based startup operating an all-electric courier network, has raised $10m (£7.8m) for its Series A funding round.

Launched in 2021 by a team of early-Monzo employees, Packfleet handles the delivery service for clients including Pizza Pilgrims and the climate-focused toilet paper brand Who Gives a Crap.

Packfleet manages the tech and tracking end as well as the delivery itself. The company has expanded its fleet of couriers to more than 100 drivers across London.

“Our merchants are increasingly seeing how their customers care about a business’s environmental credentials, and investors are no different,” said Packfleet CEO and founder Tristan Thomas.

“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 funding round was led by General Catalyst and Voyager Ventures. Existing backers Creandum, Entree Capital and Founder Collective also participated in the Series A round.

“The e-commerce market in the UK is one of the largest in Europe, and we are excited to support Tristan and team on their next stage of growth,” said Juliet Bailin, partner at General Catalyst.

“Packfleet is a breath of fresh air for those merchants. Their human approach and in-house technology are combining to revolutionise the industry and set a new standard for couriers – one that’s intuitive and efficient for everyone involved.”

The new funding will support the development of Pathfinder, a proprietary routing software tool used by the startup. The cash injection will also allow the expansion of Packfleet’s roster of merchants.

Packfleet previously raised £8m in a seed round in April 2023.

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