Following its sale to YDLGP Limited in February 2024, Yodel has announced a new £85m (US$108m) funding package through the new ownership structure that will allow it to further automate and modernize the business over the next three years.
The company will invest in initiatives relating to the out-of-home (OOH) delivery sector, which is experiencing increased growth thanks to the booming customer-to-customer market (C2C) – Yodel saw a 200% uptick in C2C volumes in the last two years.
Mike Hancox, CEO of Yodel, said, “I am delighted that we have secured a funding package that gives Yodel financial security into the future and the ability to continue investing in the long-term success of the business.
“I have to say thank you to my colleagues and our clients, who have been very supportive whilst Yodel has gone through a change of ownership after many years with the Barclay family. We are excited to develop our OOH delivery offer and grateful for the support of the investors who will make this possible.”
This latest investment is supported by a consortium of investors including PayPoint plc and IGF (Independent Growth Finance).