Passport, a San Francisco, CA-based parcel supply chain network, raised $12M in Series A funding.
The round was led by M13 with participation from Resolute Ventures, Precursor, Kleiner Perkins, RiverPark, and Republic.
The company plans to use the funds to invest in its parcel supply chain network and continue to scale operations across the board.
Founded in 2017 and led by CEO Alex Yancher, Passport is a modern international shipping carrier built for e-commerce and direct to consumer brands. The company takes on all of the aspects of managing cross-border shipping for merchants, including:
- Directly intercepting and handling customer service inquiries with a highly-trained in-house team;
- Calculating and collecting taxes and duties directly in the merchant’s cart;
- Helping merchants stay in compliance with new UK and EU VAT rules;
- Navigating and optimizing a complex global network of carriers and customs brokers;
- Helping merchants in regulated industries stay in compliance with country-specific requirements, particularly in higher visibility categories like cosmetics and supplements.
Since its founding, Passport has shipped nearly 3M packages to countries all over the world from ecommerce and DTC brands like Betabrand, Native and Bombas.
FinSMEs
18/12/2020