Fetch Package, an Austin, Texas-based last-mile package delivery service for apartment communities, raised $60m in funding.
The $50m Series C equity funding round was led by Ocelot Capital with participation from Greenpoint Partners, Alpaca VC and Rose Park Advisors and existing investors Iron Gate Capital, Signal Peak Ventures, Venn Ventures, Pando Ventures, and Seamless. In addition to the equity raise, Signature Bank provided a $10m venture debt facility.
The company intends to use the funds to further scale its business by opening in 24 new major markets over the next two years as well as continuing to expand to new locations within existing markets.
Founded in 2016 and led by CEO Michael Patton, Fetch accepts deliveries at its local facilities and works directly with residents to schedule door-to-door delivery. It currently operates in Dallas/Fort Worth, Houston, Austin, San Antonio, Seattle, Denver, Atlanta, Orlando, Tampa, Chicago, Phoenix, Charlotte, Raleigh/Durham, Washington, D.C., Jacksonville and Portland, and will soon be expanding its footprint to Philadelphia, San Francisco and Miami.
Delivering roughly 3.5 million packages in 2020, the company has already hit the 2.5 million mark for volume in June 2021 and they’re currently on track to deliver over 8 million packages by the end of the year.
FinSMEs
21/07/2021