Sir Terry Leahy has invested £2m of his fortune into a British software company he believes could transform retailers’ supply chains.
The former Tesco boss has acquired a 10% stake in MetaPack, which coordinates customer deliveries for retailers including Marks & Spencer, John Lewis and Tesco.
It is the fourth investment Leahy has made since he left Tesco in March, including taking a 3% stake in The Hut. He plans to build a private venture capital portfolio.
MetaPack, which helps retailers deliver goods faster to customers, has not yet turned a profit, but Leahy believes its software holds the key to online shopping, according to the Sunday Times.
The 55-year old’s money will be used to help the company expand internationally. Leahy will advise the firm.
Leahy said: “The supply chain is global. MetaPack’s world-leading software means that they have the potential to be a leader in this field.”