Surrey-based fulfilment and national delivery business Diamond Logistics has secured a £2.5m investment from Boost&Co, a provider of growth capital for UK SMEs.
It follows an increased demand for its services from the ecommerce and fulfilment sector and will be used to help grow the business and its services further.
The business was established in 1992 by founder and chief executive Kate Lester and has moved from being a traditional logistics business operating its own fleet of vehicles to a logistics and fulfilment technology company. This follows the development of its platform, Despatchlab, that brings client users and network partners together.
The partnership allows its customers and third-party logistics providers to support SME and national retailers with its ‘one-stop’ logistics platform helping its customers to deliver the same and next-day delivery services consumers require.
Lester said: “Boost&Co is a good partner for Diamond Logistics as its team is entrepreneurial and visionary. The team has supported our vision for the future of same-day fulfilment and embraced the opportunity that Despatchlab provides, not just for our network, but vertical markets such as retail too.
“This supports also allows us to retain our independence, with 95% of equity still owned by myself, and our team.”