International fulfilment services provider fulfilmentcrowd has reported 71% growth in revenues, with turnover reaching £13 million for year-ending 31st March 2021, despite global supply chain disruption.
During the same period, the Lancashire-headquartered company grew its customer base from 300 to 500 SME eCommerce retail businesses and expanded its operations in the EU and US.
The company’s US-based distribution centres in Los Angeles and Virginia are now processing 1,200 orders every week for a fast-growing base of British-based exporters. The company also strengthened its presence in the EU, opening its third centre in Europe, which supported 264% growth in revenues generated by exports to the continent.
Growth has also seen the company add to its leadership team during the past financial year, with senior team hires including Paul Taylor, Chief Operations Officer, Peter Hosker, Chief Financial Officer and Scott Warrington joining as Chief Revenue Officer.
In March 2021, fulfilmentcrowd closed its financial year with a £7.5million investment from growth capital investor BGF. This is supporting fulfilmentcrowd’s international expansion and continued investment in its cloud-based customer platform. Over the next 12 months, the business will also create 12 new highly-skilled technical and customer service roles to support its customer platform.
Lee Thompson, Managing Director at fulfilmentcrowd, commented: “Growth is being driven by our unique ability to meet the demands of the fast-growing number of SME eCommerce retailers. Online shopping is growing at a phenomenal pace and smaller retail businesses want to increasingly focus energy on selling products, rather than spending time packing and sending them to customers.
“SME retailers are keen to outsource this part of their business but often find it cost-prohibitive and complex. They are also sometimes cautious they might end-up with a one-size-fits-all fulfilment solution, which doesn’t necessarily suit their size of operation.
“Our straightforward customer-focused offer of no minimum volumes and no lengthy agreements, backed-up by ‘plug and play’ tech, is really resonating with small and medium-sized eCommerce retailers.”
fulfilmentcrowd is now finalising the development of its second-generation customer app, which supports retailers in improving stock management amidst global supply chain disruption.
Lee Thompson continued: “The sector is undoubtedly facing a number of challenges, ranging from record shipping prices to driver shortages. Investing in tech and software is a key part of the solution for addressing these difficulties, as it can provide streams of data that help improve stock inventory forecasting and generate efficiencies. This will help protect the success of our customers during times of uncertainty and, in turn, help support our continued growth.”
fufilmentcrowd’s in-house software developers have invested more than 3,000 hours during the past few months in revitalising its customer app, which enables customers to fully manage and track stock inventory at the touch of a button. Now in Beta testing, the app will be rolled-out and continuously updated over the next six months.
“We realise that owners and senior leaders of SME retailers live and breathe the running of their companies,” continued Lee Thompson. “They want to know the status of customer orders in real-time and to ensure products are on track and on time. This becomes even more important when they’re selling products internationally.
“The new app embraces this level of visibility and real-time tracking, meaning companies can quickly access data that enhances customer service. It really helps smaller businesses maintain the personal service that sets them apart.
“Continuing to invest in our own software, along with an expanding array of international services will support further growth this year for fulfilmentcrowd. The SME part of UK retail is extremely entrepreneurial and agile and has huge long-term growth potential. Consumers are keen to support boutiques and independents, and champion innovative start-ups. By providing these businesses with next day and international delivery options they can afford, fufilmentcrowd is well positioned to help SME retailers compete with big businesses and sustain growth in a rapidly rising market,” Lee added.
