Liverpool-based independent parcel carrier Yodel has secured a €99 million funding package that will enable them to invest in plans to further automate and modernize their business. The investment will be used to meet demand for its rapidly growing Out of Home (OOH) delivery channel and includes initiatives launched in response to a significant increase in parcel volumes.

Yodel 

Yodel will continue to be led by CEO Mike Hancox, who takes control of the company in June 2024. Hancox will continue to hold a significant equity stake following the new financing and will work with the existing senior management team and strategic partners. These partners include PayPoint plc, which made a strategic investment of €11.6 million in June 2024 and operates Collect+, the leading OOH network with over 12,000 locations across the UK. Last year Yodel experienced record growth with increased volumes supported by multiple new contract wins and renewals with some of the largest and fastest growing e-commerce businesses serving the UK. This growth was supported by strong demand for Outdoor operations and an exploding customer-to-customer market (C2C), which has seen a 200% increase in C2C volumes over the last two years. In order to meet this demand, Yodel has continued to make significant investments in its network and infrastructure, including a brand new 162,000 sq. ft. warehouse in Huyton, doubling their capacity in the North West. They have also continued to invest millions of pounds in their fleet.

I am delighted that we have secured a funding package that provides Yodel with financial security for the future and the ability to continue to invest in the long-term success of the business. I must thank my colleagues and our customers who have been very supportive of me during the change of ownership process after Yodel's many years with the Barclay family. We are excited to develop our Out of Home delivery offering and are grateful for the support of the investors who will make this possible.

Mike Hancox