Polish parcel lockers startup InPost goes public and raises €2.8B
On January 27, InPost went public on the Euronext exchange in Amsterdam and became Europe’s biggest IPO since 2018. The startup’s shareholders Advent International, Templeton Strategic Emerging Markets Fund and PZU Fundusz have sold 175 million existing shares at 16 euros each, totally raising €2.8 billion, Bloomberg reports.
Started in 1999 by Rafał Brzoska, InPost today offers logistics services and creates a network of automated parcel lockers, self-service parcel dispatch and collection points, open 24/7. At the end of 2020, the startup owned over 12,000 such devices throughout Poland. As Brzoska, who serves as CEO, said, InPost is planning to expand and replicate the business from Poland to the UK, France, Spain and Italy using the proceeds.
InPost will also continue developing its services dedicated to e-commerce including courier services packages for companies, store integration and fulfilment. As Bloomberg informs, in the first nine months of 2020, the startup got 46.9% of its revenue only from Allegro and merchants selling goods on its platform.
“We have a clear vision – to become Europe’s leading out-of-home automated solution for e-commerce, and a focused plan to help us get there. Our listing represents not the end, but the beginning of the next step in this journey,” Rafał Brzoska maintained.