InPost receives €115.4 million in funding for international expansion
7th May 2015: InPost, the innovative send, collect and return parcel locker service, has today announced that it has received a €115.4 million joint funding investment for international expansion of the business.
Funding consists of an €81.7 million equity investment from global asset manager Franklin Templeton and insurance group PZU together with existing shareholder Integer.pl Group. Franklin Templeton and PZU will make a cash investment with the option to provide additional funding support in the future. Integer.pl will also make an investment and contribute assets as part of the transaction. BGK, a Polish state-owned development bank, also announced that it will provide InPost with a USD 36.7 million loan to help drive business growth and development within North America and Canada.
Through this new joint investment and with the support of the current and new shareholders, InPost will continue to expand both in the UK and across its global parcel network. The company plans to increase its network to 5,000 automated locker terminals across Europe, North America and the Middle East by the end of 2015 and will develop an additional 4,000 lockers following this significant investment.
Rafal Brzoska, CEO of Integer.pl Group and InPost said: “These funds will help accelerate the growth of the business and take the company to the next level on its road to become a global platform for automated parcel delivery services. We welcome our new and reputable partners as shareholders and look forward to working with closely with them as we continue to build the business across key markets.”
Andy Taylor, Managing Director at InPost UK said: “The benefits of automated lockers have never been more evident than in the UK following the pre-Christmas delivery challenges that hit the industry; we believe they have the potential to ease a number of the issues and costs that face all parties in the delivery chain.
“It’s therefore great to be able to announce the closing of this second round of funding that will allow InPost to make its automated parcel locker network even more accessible and convenient for UK shoppers and businesses. We already have a network of over 1000 lockers in the UK and this investment will enable us to fulfil our ambitious UK growth plans for 2015 and beyond.”