Stord lands $400M Citi-led credit facility, adds CFO and CRO

Stord said Thursday it closed a $400 million credit facility led by Citi and hired new finance and revenue chiefs. The Atlanta-based fulfillment company said the facility closed oversubscribed at nearly double its original target. Morgan Stanley, JPMorgan, First Citizens, Citizens and KeyBank also participated.

The deal follows a $250 million Series F led by Strike Capital in May that valued Stord at $3 billion. That brings Stord’s 2026 equity and credit capacity to $650 million, the company said.

“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,” said Sean Henry, CEO and co-founder of Stord, in the announcement.

“We will use this capital to expand our fulfillment network, accelerate our deployment of robotics, and invest aggressively in AI through Stord Labs.” The announcement did not disclose the facility’s structure, pricing or maturity.

Nearly 100 fulfillment locations Revenue run-rate is approaching $1 billion, and the company has grown tenfold over the past four years, Stord said. Henry told Axios Pro the company has grown materially since its May raise. Stord, which is privately held, did not disclose revenue or profit figures.

The company says it runs nearly 100 fulfillment locations worldwide for more than 1,000 brands and processes more than $15 billion in gross merchandise volume a year. Its packages reach 1 in 4 U. S. households annually, according to Stord.

Acquisitions built part of that footprint: ProPack Logistics and Pitney Bowes’ e-commerce fulfillment unit in 2024, Ware2Go from UPS in May 2025 and Shipwire from Ceva Logistics in January. Ware2Go alone added 21 e-commerce warehouses with about 2. 5 million square feet of storage capacity, and Shipwire brought 12 fulfillment centers.

Two hires from public companies Bill Zerella, the new chief financial officer, has led finance at three public companies and took all three to the public markets, including Fitbit in its 2015 IPO. He most recently served as CFO of ACV Auctions.

Mark Wayland, the new chief revenue officer, was most recently chief revenue officer at Box and held the same title at Tanium before that. He spent more than a decade at Salesforce, where he rose to senior vice president of Marketing Cloud. Both men come to Stord from NYSE-listed companies.

The new lenders and executives are “a vote of confidence in the foundation we’ve created at Stord, as well as a signal of where we are headed,” Henry said. The post Stord lands $400M Citi-led credit facility, adds CFO and CRO appeared first on FreightWaves.