Based in Belfast, Selazar is an e-commerce fulfilment company. It recently announced that it has secured £20 million in growth investment, which has increased its valuation.
The identity of the investor has not been disclosed
yet. However, it will buy the shares of existing local shareholders who will
see a five-fold return on their money. This round of funding follows an initial
seed investment from Foresight Group, Invest Northern Ireland and angel
investors in November 2019. Thanks to this funding, Selazar will be able to
transition into a global fulfilment provider. It will use this money to enhance
its UK network and to fund its growth in Europe, the US, and Latin America.
Moreover, it will invest more in e-commerce fulfilment technology and financial
services so that customers are better served.
According to reports, this is the largest ever tech
investment in a Northern Ireland company and will allow Selazar to open new
warehouses in several regions. Additionally, it will increase its headcount in
the following year.
Commenting on this development, Jack Williams, CEO of the
fulfillment said: “We are incredibly excited to announce this significant new
investment that will see Selazar embark on
the next stage of our journey and expand internationally”.
Photo credit: Tama66 from Pixabay
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