Eight Roads invests $17m in More2

More2 stated it will use the fresh capital to expand its international operations and diversify into new market segments.

The transaction marks the first time More2 has raised capital from external investors.

Eight Roads has been particularly active in recent months. In September it led a $12.6m series-C round for Spanish courier aggregation platform Packlink and took part in a €10m round for Belgian food delivery startup Take Eat Easy.

The VC, formerly known as Fidelity Growth Partners, rebranded as Eight Roads in July and simultaneously announced the launch of a new £150m pan-European fund.

Company
Founded in London in 2002, More2 provides data analytics and marketing consultancy serving the retail and e-commerce sectors. The company has a headcount of 100 and serves around 80 UK and international clients including Boden, Sweaty Betty and Charles Tyrwhitt.

People
Davor Hebel is a partner at Eight Roads. Kevin McSpadden is founder and CEO of More2.

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Fidelity Growth Partners Europe (FGPE)