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Auctus’ fast-growing tech investment, Gophr, surfaces on the green
2 minute read
Auctus Alternative Investments (ASX:AVC) has updated the market on its investment in London-based last mile delivery business, Gophr.
Encouragingly, the Gophr business has continued on its strong growth trajectory, with sales for the calendar year to the end of November 2018 being approximately £2.6 million, up approximately 160% for the same period in the prior year.
Gophr is an Uber-style tech platform operating in the last mile delivery service market. It’s solving an addressable problem in this space — one which tends to be expensive and unreliable, and fraught with unpredictable demand.
Gophr’s solution, which automates traditional courier company tasks, drives efficiency and reduces costs, cutting through layers of logistics tech.
Notably, the global courier market is worth $250 billion a year, and is projected to grow to $343 billion by 2020.
AVC itself is a listed alternative investment fund manager with a focus on the rapidly growing global tech space. It has assembled a de-risked, diversified, high return portfolio spread across direct investments and in funds across Asia-Pacific, Europe and the US.
AVC currently owns 75% of Gophr. Gophr’s tier one customer base also continues to grow, providing AVC with confidence in Gophr’s business strategy and its solution for the complex last mile delivery problem.
Some of Gophr’s new customers in the last 12 months include:
- Net a Porter
- UK Mail
- Selfridges & Co
In addition to these new customers, Gophr is expanding its service offering with its current customers to other major UK cities (outside of London) with the likes of:
- Marks & Spencer
- Hello Fresh
- EVE Sleep
Discussions have progressed with several parties to take in external capital to help finance the business through its next phase of growth. AVC expects to update the market regarding this capital injection early in the new year, if not earlier.