Yodel, an independently owned parcel carrier offering a wide range of delivery options to suit business needs, announced that it has secured a €99 million funding package that will enable them to invest in plans to further automate and modernise their business over the next three years. This includes initiatives that will be rolled out in response to the acceleration of consumer Out of Home (OOH) deliveries and a material increase in parcel volumes through this fast-growing channel.
The company said that they will continue to be led by CEO Mike Hancox, who took control of the company in June 2024. As CEO, Hancox will retain a significant shareholding following the new funding, and will work with the existing senior management team and strategic business partners. This includes PayPoint plc, who made a strategic investment of €11.6 million in June 2024, and operate the leading OOH network, Collect+, in over 12,000 locations across the UK.
Mike Hancox, CEO of Yodel, said: “I am delighted that we have secured a funding package that gives Yodel financial security into the future and the ability to continue investing in the long-term success of the business.”
Over the last year, Yodel has experienced record growth with increased volumes supported by multiple new contract wins and renewals with some of the biggest and fastest-growing ecommerce businesses serving the UK. This growth has been supported by strong demand for Out-of-Home operations and the booming customer-to-customer market (C2C), seeing a 200% uptick in C2C volumes in the last two years.
To meet this demand, Yodel has continued to make significant investments in its network and infrastructure including a brand-new 162,000 sq. ft. depot in Huyton, doubling their capacity in the North West. They have also continued to make multi-million pound investments in their fleet.
“I have to say thank you to my colleagues and our clients, who have been very supportive whilst Yodel has gone through a change of ownership, after many years with the Barclay family. We are excited to develop our Out of Home delivery offer and grateful for the support of the investors who will make this possible,” added Hancox.
