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Shutl secures $2 million investment

Shutl has secured a $2 million investment from new investor, the UPS Strategic Enterprise Fund, and existing investors including Hummingbird Ventures and GeoPost.

The branded online shopping delivery service will use the new investment to expand its engineering team, accelerate the acquisition of new retail partners, and prepare to launch its service in the US early 2013. The investment demonstrates the interest of UPS in exploring different options for helping retailers serve online customers.

“Since launching in 2010, we’ve focused on providing a service that blows away shoppers’ expectations,” comments Tom Allason, Founder and CEO, Shutl. “We’ve spent this last year taking Shutl national across UK, now we are ready for the U.S., a market that we estimate will be worth around $26bn by 2016.”

Source : The Retail Bulletin
www.retailbulletin.com

27 August 2012
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