Packhelp - the leading European custom packaging marketplace - has announced a €40 million in Series B funding. Paris-based B2B tech growth fund InfraVia Growth led the round, with participation from PortfoLion, FJ Labs and the European Investment Bank. Previous investors Speedinvest, ProFounders, Market One Capital, Inovo, White Star Capital and business angels also joined, which brings the total Packhelp has now raised to €52m.

Launched in 2016, Packhelp is on a mission to empower brands to be better at packaging. The company’s software products, Packhelp Studio and Packhelp Plus, make it easier for companies of all sizes to create bespoke packaging and collaborate with an international network of packaging suppliers. So far, Packhelp has served over 50,000 customers in over 30 countries, including global brands such as H&M and Uber Eats, as well as direct-to-consumer companies like Hims, or Copenhagen Grooming. This success saw the company named as the fastest-growing tech company in Central Europe in Deloitte Technology’s Fast 50 ranking in 2020.

Packhelp’s success has seen it become the leading marketplace for bespoke packaging in Europe. The new funding will enable the company to accelerate its international expansion plans and scale its global suppliers’ network. As well, it will continue expanding across key markets in Europe and the UK. With plans to establish local teams, localise its product portfolio and build distribution hubs in key areas, Packhelp will be able to better serve its customers and run resilient operations, giving it an edge over competitors.

Packhelp will also use the new funding to invest in expanding its sustainable offering, processes and range. The company has already introduced sustainable alternatives for all its product ranges and in 2020, 65% of all packaging items sold via the marketplace were produced with recycled materials and 92% of them were recyclable. The company has set its sustainability goals on testing reusable packaging, as well as introducing carbon neutral packaging solutions.

The funding will also be used to develop a SaaS product dedicated to mid-market and enterprise companies to compete with in-house operations. The new solution will help to digitise and modernise a stagnant industry that relies on outdated, ill-fitting tools and still largely runs over email. Packhelp will leverage its technical knowledge and industry know-how to provide companies with a better understanding of price and lead time behaviour and help improve supply chains that are facing unprecedented challenges and turmoil. Central to the new platform will be a verified base of sustainable packaging suppliers, as well as introducing features that help measure carbon footprint and offset impact.

Wojtek Sadowski, co-founder and CEO at Packhelp, said: “We are thrilled to partner with such a diverse group of investors. We’re excited to join forces and together build a global leader in the packaging space. The world needs a new approach to packaging as it plays a key role in the creation of the online shopping infrastructure. It influences purchasing decisions, inspires customers to recommend products, and can increase customer retention. With new online stores popping out across the world, social commerce on the rise, growing competition and rising acquisition costs there isn’t a better moment than today to invest in the great unboxing experience."

Alban Wyniecki, partner at InfraVia Growth, said: “Packhelp has reached a milestone with a recognised offer, a solid technology and a proven ability to scale in different countries. We are looking forward to working closely with the executive team to help them reach their next growth stage.”

Tibor Győrbíró, Partner at PortfoLion, said: “Booming ecommerce, D2C and sustainability are just a few of the latest macro trends that define our daily life and will most probably stay with us for the next decade or so. Packhelp checks all the boxes with its product to provide the perfect infrastructure for even the biggest brands in the affected industries while fueling their own unprecedented growth.”