Shiprocket, a tech-enabled shipping and fulfillment platform, has inked a deal to acquire a majority stake in Pickrr, an e-commerce SaaS platform for D2C brands and SME e-tailers.
The deal value is estimated at $200 million, comprising cash, stock and earn-out. The consolidation also creates a single gateway for other enablers and suppliers to service the ever-growing digital retailer community.
Avendus Capital acted as the exclusive financial advisor to Shiprocket on this transaction. Shiprocket and Pickrr cater to India’s burgeoning D2C sector. While both platforms operate in the same sector, they have complementary value propositions and customer segments that will play a mutually beneficial role post the acquisition.
‘Will define the future of e-comm’
Saahil Goel, Co-Founder and CEO, Shiprocket said, “We are excited to have Pickrr as part of the Shiprocket family, combining the two largest platforms enabling direct commerce. Together, we will define the future of e-commerce enablement in India, creating the most comprehensive enablement software stack that every retailer can use to drive success in their digital journeys.”
Goel added, ”We have a once-in-a-lifetime opportunity to define how retailers interact with logistics operators and consumers to create consumer delight. Shiprocket and Pickrr are uniquely positioned to capture this opportunity by laying the building blocks of this software infrastructure. We look forward to building a formidable e-commerce logistics ecosystem with our complementary products and customer segments.”
Published on
June 15, 2022
