Stord secures $400 million credit facility as it strengthens its financial leadership

Stord has secured a $400 million credit facility led by Citi and appointed two new senior executives as the company prepares for its next phase of expansion. Announced Thursday, the financing closed with demand nearly twice the original target, according to the Atlanta-based e-commerce fulfillment provider.

The transaction also involved Morgan Stanley, JPMorgan, First Citizens, Citizens and KeyBank.

This latest financing follows Stord’s $250 million Series F funding round in May, led by Strike Capital, which valued the company at $3 billion. With the new credit facility, Stord’s total equity and credit capacity for 2026 reaches $650 million, the company said.

Chief Executive Officer and co-founder Sean Henry said the combination of the two financings would provide the financial resources needed to support the company’s ambitions.

“This facility, combined with our $250 million Series F, gives us the balance sheet to match the scale, potential, and impact of what we’re building,” Henry said in the announcement.

The company intends to direct the capital towards expanding its fulfillment network, accelerating the deployment of robotics and increasing investment in artificial intelligence through Stord Labs.

Stord has not disclosed the credit facility’s structure, pricing or maturity.

Approaching $1 billion in annualized revenue

Stord said its revenue run-rate is nearing $1 billion, following a tenfold increase in the company’s size over the past four years. Henry also told Axios Pro on October 8 that the business had expanded significantly since its May funding round.

The privately held company did not provide specific revenue or profitability figures.

Its operating network now encompasses nearly 100 fulfillment locations worldwide, serving more than 1,000 brands. Stord says it processes over $15 billion in gross merchandise volume annually, with its packages reaching one in four U.S. households each year.

Network growth is based on acquisitions

Stord has broadened its fulfillment capabilities through a series of acquisitions, growing its footprint across North America and other markets.

In 2024, the company acquired ProPack Logistics and Pitney Bowes’ e-commerce fulfillment business. It acquired Ware2Go from UPS in May 2025 and then Shipwire from Ceva Logistics in January.

These deals grew warehousing capacity within the Stord network. Ware2Go by itself added 21 e-commerce warehouses, or about 2.5 million square feet of storage space. The Shipwire acquisition brought on 12 more fulfillment centers.

The expanded infrastructure will enable Stord to handle growing e-commerce volumes as it invests in automation and technology across its operations.

New CFO and CRO bring public-company experience

Alongside the financing announcement, Stord confirmed the appointments of Bill Zerella as chief financial officer and Mark Wayland as chief revenue officer. Both executives join the company from businesses listed on the New York Stock Exchange.

Zerella brings experience leading finance functions at three publicly traded companies, all of which he helped take to the public markets. His career includes Fitbit, which completed its initial public offering in 2015. Most recently, he served as CFO of ACV Auctions.

Wayland joins Stord after serving as chief revenue officer at Box. Before that, he held the same position at Tanium. He also spent more than a decade at Salesforce, where he advanced to senior vice president of Marketing Cloud.

The appointments add experienced financial and commercial leadership as Stord seeks to scale its operations and strengthen its position in the fulfillment and e-commerce logistics market.

Henry described the financing partners and new executives as a strong endorsement of the business and its future direction.

The participation of the lenders and the arrival of the two executives represent “a vote of confidence in the foundation we’ve created at Stord, as well as a signal of where we are headed,” he said.