Diamond Logistics secures £2.5m funding

UK based fulfilment and delivery company Diamond Logistics has secured £2.5 million in loans from BOOST&Co to develop its one-stop logistics platform Despatchlab and to accelerate the growth of its national network.

Kate Lester, chief executive and founder at Diamond Logistics says: “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 support also allows us to retain our independence, with 95% of equity still owned by myself, and our team.”

Kim Martin, head of the South and Midlands at BOOST&Co says: “We are delighted to support Kate and the team at Diamond Logistics and help them achieve their future growth plans. Diamond Logistics offers a compelling service and we are very excited by the opportunities Despatchlab presents for them and the market as a whole.”

Diamond Logistics was founded in 1992 and aims to offer national and local fulfilment and delivery to SMEs across the UK. Its platform Despatchlab allows users to book, track and manage all courier requirements, express parcels and shipments in one place. The company has more than 30 micro-fulfilment centres around the UK.

BOOST&Co offers debt solutions to innovative SMEs in Europe, offering loans from £1 million to £10 million, with a strong focus on technology, media and telecommunications.

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