Pargo, founded in 2015 by Lars Veul and Derk Hoekert and based in Cape Town, operates a proprietary, technology-based physical network that uses existing retail stores to let customers send and receive parcels at dedicated pick-up points. The company has grown its physical collection network to over 1,000 unique pick-up points and has signed up more than 300 retail partners. In 2016 Pargo reported a 629% year‑over‑year increase in revenues and a 463% increase in its client base. The service model centers on using retail partners as collection points to expand logistics reach without building new facilities. Pargo intends to use the new funding to expand sales, launch new marketing efforts, and develop and widen its logistics and fulfillment services offering. As part of the transaction, a representative of the lead investor will join the company’s board.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2017