Belfast e-commerce start-up has raised £20m from a global investor to expand its business in the US and Europe. It is thought to be the biggest outside investment into a Northern Ireland start-up. Selazar is a logistics provider, helping firms with online orders and deliveries. The funding will see the firm open new warehouses in Ireland, the Netherlands, the US, Mexico and Colombia. The company hopes the international scope, with the ability to transfer stock between international warehouses, has the potential to ease some of the post-Brexit difficulties some online sellers have faced.
The business was founded in Belfast in 2018 and has a team of about 30 people across its existing offices in London and Castle Donington. The company has developed its own e-commerce fulfilment service and primarily services medium and larger retailers throughout the UK. The new investor, who has not yet been named, will buy the shares of existing local shareholders who will see a five-fold return on their money.