Nottingham 29 January 2020: Foresight Group LLP (“Foresight”), a leading independent private equity and infrastructure investment manager, is pleased to announce a £500,000 growth capital investment into Selazar Limited (“Selazar” or “the Company”), a logistics management software business, set to open a new base in Leicestershire.
The investment has been made using finance from the Midlands Engine Investment Fund (“MEIF”) and is part of a £1 million funding round led by Foresight and supported by Invest Co-Fund NI and private angel investors.
At present, e-commerce retailers are required to use multiple platforms to manage online sales and returns. Selazar has developed an end-to-end, logistics management software solution which connects the four major parts of an e-commerce operation - product suppliers, fulfilment centres, couriers and retailers - within a single, easy to use platform.
The software captures and uses granular levels of data to improve the efficiency of stock storage, handling and fulfilment, reducing costs throughout the value chain. Retailers are able to readily view and manage their stock, sales orders and returns through a single, unified platform.
Selazar will use the investment to open a new office in Castle Donington, Leicestershire. The base is strategically positioned in an area with a strong logistics presence and brings closer access to the large SME retailer market and its fulfilment partners.
Originally established in Belfast, the firm aims to service the 100,000 SME e-commerce retailers in the UK, each processing up to 40,000 product sales and returns per month. Selazar has also partnered with ICS, based in the West Midlands, to bring Selazar’s technology to ICS’ own retail clients.
Commenting on the investment, Adam Huckerby, Investment Manager at Foresight, said: “We are pleased to be working with such a vibrant and dynamic company with the potential to transform and add value to a large, growing market. We have been impressed by the rapid progress made by the management team and we are looking forward to supporting the continued growth of Selazar over the coming years.”
Jack Williams, CEO at Selazar, added: “We are delighted to have the support of Foresight, MEIF, Invest Co-Fund NI and our other investors. We are at a really exciting stage in our growth, with our platform now successfully supporting fulfilment centres, couriers and retailers across the UK, delivering thousands of parcels a week. We have a huge opportunity to scale ahead of us, and we are now very well placed to accelerate our growth.”
Grant Peggie, Director at the British Business Bank, said: “It is great to see that MEIF funding is supporting Selazar’s decision to open a new base in Leicestershire and recognition of this strategically important location in maximising the emerging opportunities within the e-commerce sector. MEIF is supporting growth across the Midlands and we would encourage other expanding companies to explore whether MEIF funding is suitable for them.”
Kevin Harris, Chair of the LLEP Board of Directors, said: "MEIF’s commitment of £500,000 to Leicestershire-based software company Selazar is another great example of forward-thinking investment in the future of our economy. Logistics is a key industry in Leicester and Leicestershire, and Selazar provides software solutions to logistics firms that keep them moving in this incredibly fast-paced sector. This MEIF investment will ensure that Leicestershire remains the destination for logistics businesses at all points of the supply chain.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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