- Published on January 25, 2022
I am excited to publicly announce our Series B funding led by Technology Crossover Ventures (TCV), one of the largest growth equity firms focused on high growth technology companies. In this round we also welcomed some e-commerce industry superstars to help us along the way – Flexport, FJ Labs, and Pure Imagination as well as angel investors Nik Sharma of Sharma Brands, Kitsch founders Cassandra and Jeremy Thurswell, Shopify’s former VP of Shipping Louis Kearns, Italic CEO Jeremy Cai, and Sid Gupta, CEO of Quince.
We also welcomed Nita Lathia to the leadership team as our Head of Marketplaces. Nita is one of the most experienced and respected innovators in our industry and a pioneer in the design of cross-border delivery solutions for marketplaces. Her vision for disrupting international e-commerce and parcel delivery aligns with our long-term business plans by enabling marketplaces and their sellers to confidently ship anywhere in the world.
Our vision at Passport is to help brands reach their global potential. Today we work with some of the largest brands including Native, Kylie Beauty, Kitsch, and Tommy John. We feel strongly that the best way to accomplish this vision is as a modern international shipping carrier built for e-commerce from the ground up.
Problem with international shipping today
Cross-border shipping is a complicated problem, one that extends beyond just logistics.
- International consumers expect a great end-to-end customer experience, especially because the transit times are longer than domestic shipping
- Merchants must collect and remit the correct amount of duties and taxes, a particularly challenging task since every country has different policies and procedures
- Many products require special documentation for shipping around the world, such as pet food and cosmetics
- And don’t even get us started on international returns!
International shipping built for ecommerce
Passport combines international parcel shipping logistics with everything else a shipper needs to have a successful international program. Passport can provide e-commerce merchants with financial and regulatory compliance of shipments, great end–to-end experience for their customers, and handling of the international returns process.
We believe this new round of funding will help us achieve two big goals: to further develop our software-based infrastructure for cross-border e-commerce, and to expand on our recent acquisition of Access Worldwide by building out our physical logistics capabilities (hint: better rates and transit times for shippers). We are aiming to combine best in class technology with best in class logistics, and we believe that this investment will help us reach our goals faster.
Today DTC brands, marketplaces, and 3PLs rely on Passport for their international shipping needs, and we hope to continue to add value to this wonderful ecosystem.
I am deeply grateful to all who helped bring Passport to life, from my teammates to investors, customers, and partners. We are committed to our vision and appreciate everyone’s support.
We are hiring across all teams. Please apply HERE.
And if you need any help with your international shipping, please reach out to our team HERE.