CornerDrop: Parcel delivery start-up launches £40,000 crowdfund on Seedrs

Madeline Ratcliffe
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CornerDrop allows customers to pick up deliveries from local businesses, for a fee (Source: Getty)

Parcel delivery start-up CornerDrop has turned to crowdfunding site Seers to raise £40,001 investment.

Cornerdrop is offering a three per cent stake in its one-year-old business, which it values at £1.3m. The company was valued £950,000 at its last fundraising, and it says the higher valuation takes into account a number of new partnerships.

The company allows customers to nominate any UK small business (from a florist, to a hotel, to a hairdresser) to be the drop off location for their deliveries. The small business gets a fee for each package, and the customer can collect their parcel when it's convenient rather than missing the delivery.

Read more: The best crowdfunds of 2015

The investment would go towards running costs and salaries, as well as extending its network of businesses, point-of-sale offerings and developing a returns service.

CornerDrop is working on the platform to create a small network of its partners to act as warehouses, sending inventory between pick-up locations,a nd potentially re-selling goods returned by consumers.

The company recently agreed partnership with epay worldwide, an electronics payments processor, to integrate CornerDrop into its payment terminals in the UK, and with Nisa cornershops, who act as a pick-up location. Some 800 businesses in the UK have signed up to CornerDrop so far. It also took part in the Mass Challenge incubator programme.

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