The parcel delivery group once owned by the proprietors of The Daily Telegraph is in talks to seek extra funding just months after it was rescued from the brink of collapse.
Sky News has learnt that Yodel Shift Group is in talks with a number of prospective financial backers, including London-listed Paypoint, about an injection of capital into the business.
The discussions with Paypoint, which has a partnership with Yodel through its Collect Plus division, are understood to form part of a broader effort to recapitalise the company.
Paypoint is understood to be discussing an injection of about £10m, with other investors investing between £10m and £40m.
A deal could be signed as early as Friday afternoon although it could yet be delayed, according to insiders.
Paypoint, which has a market capitalisation of £463m, is said to see an investment in Yodel Shift Group as an important strategic deal.
The talks come four months after a newly formed company called YDLGP, which is backed by executives at the logistics technology platform Shift and Solano Partners, a merchant bank, struck a deal to buy Yodel.
Paypoint declined to comment, while a Yodel spokesman contacted Sky News to say he had "positive updates to share... regarding future investments in the business" but then refused to provide further details.
Yodel has counted the food delivery service Gousto, Argos, Vinted and Very Group, the online shopping company owned by the Barclay family among its customers.
As part of the deal announced in February, YDLGP was also due to acquire Shift itself to create an enlarged British delivery powerhouse.
However, there were doubts on Friday about the progress of the broader transaction.
One source said that Shift's technology was already integrated and powering Yodel, and that it was vital to assist Yodel in modernising its operations.
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Yodel makes more than 190 million deliveries annually from its sites across the UK.
Last year, it generated £561.8m in revenue, adding clients including eBay and Boden.
Other operators, including The Delivery Group, had also explored bids for Yodel as part of a sale process which concluded earlier this year.
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Its sale formed part of efforts to restructure the Barclay family assets as its main lender sought a buyer for the Telegraph newspapers and Spectator magazine.
Abu Dhabi-backed RedBird IMI sparked a political firestorm by repaying a £1.16bn loan that the Barclays owed to Lloyds Banking Group in December - with the Telegraph takeover subsequently blocked.
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