In the latest development, Surrey-based fulfilment and national delivery business Diamond Logistics has secured £2.5 million in funding from BOOST&Co.
The UK company is planning to use the funding to develop its one-stop’ logistics platform Despatchlab and accelerate the growth of its network.
Kate Lester, chief executive and founder at Diamond Logistics say: “BOOST&Co is a good partner for Diamond Logistics as its team is entrepreneurial and visionary. The team has supported our vision for the future of same-day fulfilment and embraced the opportunity that Despatchlab provides, not just for our network, but vertical markets such as retail too. This support also allows us to retain our independence, with 95% of equity still owned by myself, and our team.”
Kim Martin, head of the south and Midlands at BOOST&Co says: “We are delighted to support Kate and the team at Diamond Logistics and help them achieve their future growth plans. Diamond Logistics offers a compelling service and we are very excited by the opportunities Despatchlab presents for them and the market as a whole.”
Founded by Kate Lester in 1992, Diamond Logistics offers national and local fulfilment and delivery to businesses across the UK. The company is on a mission to help SMEs with their delivery and storage needs.
The UK company has developed its platform Despatchlab. As per the company, Despatchlab takes fulfilment and delivery to the next level. The solution lets users book, track, and manage all courier requirements, express parcels, and shipments in a single platform. Currently, the company has over 30 micro fulfilment centers around the UK.
Based out of London, BOOST&Co provides debt solutions to innovative SMEs in Europe. The company offers loans ranging from £1 million to £10 million covering a wide range of sectors, with a strong track record in technology, media, and telecommunications (TMT). So far, the company has funded around £500 million across more than 130 deals.
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