Ecommerce fulfilment company Selazar has secured a £20 million (€23.5 million) investment to fund its global expansion. The Belfast-based company said it planned to use the money to enhance its UK network and target the US, Europe and Latin America.
The latest investment, which comes from an unnamed global investment group, sees existing backers, including local Foresight Group and Co-Fund NI, managed by local business angel investors, and venture capital firm Clarendon Fund Managers exit the company, with the group acquiring their shares.
Staff will also grow, with the company planning to quadruple its current global headcount of 30 in the next year to support the growth. The group said it would also offer new financial services for its customers.
Founded in Belfast in 2018, Selazar has developed a proprietary ecommerce fulfilment platform, primarily working with small to medium enterprise-sized retailers throughout the UK. It has partnerships with major delivery companies such as Yodel, UPS and Hermes.
“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,” said the company’s chief executive Jack Williams. “Not only will it fund the opening of eight new warehouses, but it will also allow us to develop further our proprietary fulfilment technology and support customers trading in the UK, US, Europe and Latin America.
Fulfilment for retailers
“Above all, this investment separates Selazar from other third-party logistics providers. We will be a one-stop ecommerce fulfilment shop for retailers wanting to set up business in the US, Europe and beyond.”
The expansion will mean Selazar’s customers will be able to transfer stock between international warehouses, potentially helping with some of the issues caused by Brexit, simplifying processes and reducing costs.
“We’ve worked closely with Selazar since it was established in Belfast, helping it to develop its ecommerce platform with our grant for R&D,” said William McCulla, director of corporate finance at state agency Invest NI.
“I’m pleased that we were also able to support the company’s growth through a combination of access to finance support from Co-Fund NI and CEIF. This has helped Selazar get to the stage where it can take advantage of such a significant investment and has provided Invest NI with a very positive return on our investment. I look forward to seeing where this takes the company.”