Shutl secures additional $3.2 million for US expansion
Courier aggregate Shutl has announced a further $3.2 million equity investment towards US launch. Two new investors, e.ventures and Notion Capital have joined a number of other shareholders including La Poste and UPS Strategic Enterprise Fund, who invested $2 million in August.
Shutl works using an algorithm which matches orders with potential couriers, taking into consideration the cost, location, user-generated rating and when the customer wants their item delivered. The customer is able to choose between delivery ‘asap’ or to choose an hour slot, which then allows them to pick a time and price.
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The service is already offered across the UK by a handful of major retailers. With these new funds, Shutl will launch across North America, starting with New York and San Francisco in Q1 next year via a number of multi-channel retailers. Phase two will see the service roll-out across 10 additional North American cities, including: Atlanta, Boston, Chicago, Houston, Los Angeles, Miami, Philadelphia, Washington, Montreal and Toronto.
“e.ventures and Notion Capital have a wealth of experience as both investors and entrepreneurs launching disruptive web-services all over the world,” comments Tom Allason, Founder and CEO, Shutl. “We are delighted to be supported by them and our existing investors in our efforts to build a brand that changes delivery forever, in the UK, the US and beyond.”
