SoftBank Vision Fund 2 leads $177m Series C round in Sendcloud

Photo: Bloomberg

Softbank has led a $177 million Series C funding round in Sendcloud, an e-commerce shipping platform in Europe, according to an announcement. 

The investment was routed through Softbank Vision Fund 2. Others who participated in the round are L Catterton and HPE Growth.

Founded in the Netherlands in 2012, Sendcloud claims to help online businesses optimise their shipping process.

Sendcloud offers merchants a multi-carrier platform that simplifies flexible delivery. The company claims to have 23,000 merchants, including Gelato, Rosefield, Shoeby and Subdued.

So far, the company has raised over $23 million, according to TechCrunch.

Sendcloud plans to use the capital to further accelerate growth, continue to expand its international presence, and fuel global adoption of the platform.

Sendcloud currently has 400 employees and plans to hire another 250 in the next 12 months to support the company’s growth.

As part of the funding round, Neil Cunha-Gomes and Monika Wilk, both investors at Softbank Investment Advisers, will join the company’s board of directors alongside L Catterton’s Ido Krakowsky.

“Growing parcel volume and demand for flexible delivery have increased the need for smart shipping solutions amongst online merchants,” said Yanni Pipilis, managing partner at SoftBank Investment Advisers. “We are pleased … to support their mission of fueling the next wave of e-commerce enablement.”

Most recently, Softbank Vision Fund 2 has made its first direct investment in Saudi Arabia, co-leading with a government-owned fund a $125 million financing rounding in communications company Unifonic.

Earlier, the investment firm also led a $125 million funding round in Pacaso, a property co-ownership sales and management platform launched only about a year ago.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.