Logistics technology company Shift Group is the first investment from Hambro Perks’ newly launched Growth Debt fund.
The fund has provided ‘significant’ growth funding to Shift Group, the London-based B2B and B2C firm behind an AI-driven marketplace to connect retailers, businesses and customers automatically with van and truck drivers.
In addition to the support from Hambro Perks Growth Debt, Shift has raised over £20m in equity since inception in 2017.
Hambro Perks Growth Debt Fund was launched in 2022 to support UK and European high-growth scaleup companies with non-dilutive growth capital, focusing on B2B SaaS and patented hardware companies.
The £100 million pan-European Fund has recently had its first close and is led by industry specialist David Hayers, supported by a UK-based team. The investment in Shift was led by Usman Ali and Ylan Lamour.
“We are excited to be supporting Shift, a tech-driven business in the evolving logistics sector, bringing transformative products to the market,” said fund partner Ali. “Shift’s technology and algorithms work to digitalise legacy systems, improving the efficiency of the logistics industry while also helping reduce negative environmental impact, aligning with our sustainability focus as an investor.
“The innovation we see from Shift is pioneering, and we are confident that it will help advance and improve the dynamics of the logistics industry in the long term.”
Michael Saunders, CFO of Shift, added: “We are thrilled to have completed this funding round with support from Hambro Perks.
“This capital will help us expand our platform to keep up with the evolving B2B and consumer expectations for the logistics industry, which is shifting towards more on-demand, personalised services.
“Our goal at Shift is to tap into this demand, and we have ambitious plans to scale our marketplace and grow globally. We are confident that with the continued support from our investors, we can achieve our goals.”