£1m investment is delivered to ambitious postal firm

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My Parcel Delivery’s bulk shipping service, which allows customers to ship multiple parcels in one transaction, will also be developed further to improve its functionality.

Postal firm My Parcel Delivery has secured more than £1m investment to develop its technology for further growth.

The company, which was founded by entrepreneurs David Grime, and Paul Haydock, just three years ago in Manchester, acts as a postal price comparison website aimed at individuals as well as small retailers and eBay sellers.

It works with in partnership with a host of courier companies to deliver customers’ parcels including DPD, City Link, Parcelforce and Hermes.

The investment has been secured from Manchester-based Praetura Capital, and will see partners at Praetura, Mike Fletcher and David Foreman, both join My Parcel Delivery's board.

The firm, which plans to double staff numbers to 20 this year, will use the fund to develop its technology including providing new online tools to customers such as a mobile device application and enhancing its eBay shipping tool, which automates data entry and delivery bookings for eBay sellers.

My Parcel Delivery’s bulk shipping service, which allows customers to ship multiple parcels in one transaction, will also be developed further to improve its functionality.

Since launching in June 2010, the business has increased its turnover year-on-year, with revenues growing 46 per cent last year, and is on track for 50pc growth for the current financial year.

Managing director David said: “This new investment will enable us to accelerate our growth plans, to offer creative parcel delivery services and tools to expanding e-commerce businesses and to give the rapidly growing parcel delivery market the innovation it needs.

“Businesses need an alternative to Royal Mail that’s cheaper, more efficient and more in tune with the way they operate modern e-commerce enterprises.”

My Parcel Delivery received legal advice from Ward Hadaway, and corporate finance advice from KM Business Advisory.

Gateley acted on behalf of Praetura with due diligence conducted by Grant Thornton.