Softbank Vision Fund leads EUR 200m Series D for Paack

The round values Paack at EUR 1bn. Investing alongside Softbank's Vision Fund II were new participants Infravia Capital Partners, First Bridge Ventures and Endeavor Catalyst. Existing investors included Kibo Ventures, Unbound, Big Sur Ventures, RPS Ventures, Fuse Partners, Rider Global, Castel Capital and Iñaki Berenguer.

Softbank Vision II launched in June 2019 with a USD 108bn target and held a first close in October 2020 on USD 5bn (EUR 4.3bn). The fund held an interim close in November 2020 on USD 10bn (EUR 8.6bn), according to Unquote Data. The vehicle invests in technology companies worldwide with a primary focus on artificial intelligence. The GP committed USD 30bn to the fund in May 2021.

Infravia backed the round from its Infravia Growth Fund, which was launched in December 2019 and held a final close earlier this week on EUR 501m, as reported. The fund invests in technology and digital infrastructure companies across Europe. The Paack investment marks the eighth deal from the vehicle.

The company said the new capital will be used to further develop its product and support its European expansion plans. It has pledged to be the first delivery service to be 100% emission-free and it will use the new investment to achieve that goal. According to Cinco Dias, Paack expects to surpass EUR 200m in turnover this year, and states that it has reached profitability in its domicile market, Spain. According to the company's website, it has seen 3.5x year-on-year growth.

Previous funding
Paack raised USD 6m in a Series A round led by Kibo Ventures in June 2018, following a small pre-seed round in 2015 and two seed investments in 2016 and 2017, according to Unquote Data.

In July 2019, Unbound led a USD 20m Series B round for Paack. The round saw participation from Kibo, RPS Ventures, Rider Global and Fuse Ventures, according to Unquote Data.

In November 2020, Bregal Milestone led a USD 53m Series C financing round with participation from previous investors including Unbound, RPS Ventures, Rider Global and Fuse Ventures. Bregal invested via its EUR 495m fund, Bregal Milestone, according to Unquote Data.

Company
Paack was founded in 2015 by Fernando Benito, Xavier Rosales and Suraj Shirvankar, and is headquartered in Barcelona. The company has offices in Spain, London and Paris. Paack is a delivery service that allows its customers to schedule their deliveries, and provides live tracking, door-to-door delivery, and collection. According to the company, it processes 10,000 parcels per hour, per site, and services some of the largest e-commerce retailers in Spain.

The company employs 530 people globally and operates in around 100 cities in Europe.

People
Paack – Fernando Benito (co-founder, CEO).
Infravia Capital Partners – Vincent Levita (founder, CEO); Guillaume Santamaria (partner).
SoftBank – Colin Fan, Joe Medved (executives).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Southern Europe
• Support services
• Softbank
• Spain