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.