Tech & Product DD | Growth | Code & Co. advises Bregal Milestone on Paack
Tech & Product DD
Last-Mile & Logistics

Code & Co. advises Bregal Milestone on the $53M growth investment in Paack, a leading European Last-Mile Delivery Platform

Code & Co. served as Technology and Product Due Diligence advisor to Bregal Milestone in the largest growth capital investment in Spain in 2020.

London/Barcelona ,
  • $53 million Series C growth capital investment
  • This transaction is the eighth investment made by Bregal Milestone’s €495 million fund
  • Paack is the European leading provider of Scheduled, Next-Day and Same-day delivery solutions

Leading European growth capital firm Bregal Milestone has partnered with existing shareholders to lead a $53M Series C investment in Paack, the largest growth capital investment of its kind in Spain this year.

Founded in 2015, Paack is today the European leading provider of Scheduled, Next-Day and Same-day delivery solutions, offering one of the most advanced technology delivery platforms and networks. Paack provides their clients with a complete ecosystem of end-to-end operations and products, offering warehouse management, fulfilment, and delivery applications, as well as retailer systems and e-commerce checkout integrations.

With operations across Spain, UK, France, and Portugal, Paack is one of Spain’s fastest growing companies. Paack’s founder-led leadership team has recently been strengthened with the hire of former Google Cloud EMEA CTO and Co-founder, Olivier Colinet as CTPO.

Bregal Milestone is a leading growth capital firm managing a €495 million pan-European fund dedicated to making investments in high-growth European companies.

Code & Co. served as the exclusive Technology and Product Due Diligence advisor to Bregal Milestone assessing Paack's product, technology, architecture, and operations. This was Code & Co.'s second assessment of Paack following our initial Technology & Product Due Diligence for the B series investment round (Q2 2019).

Code & Co. provided Tech and Product Due Diligence and a highly technical risk and opportunity analysis, including an assessment of Paack's operations, fulfillment, and mobile capabilities.

The transaction underlines Code & Co.’s position as a market-leading technology and product advisor for growth equity investments across the globe. It further highlights Code & Co.’s extensive sector expertise in highly complex technical and operational sectors of the global digital economy.


Code & Co. is an independent advisory firm specialized in advising funds in the global alternative investment industry. Our expertise is modern and holistic technology and product due diligence. From outside-in audits and confirmatory due diligence to portfolio audits, exit preparation, and vendor due diligence, we provide our clients with crucial insight across the entire investment life cycle.