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Sendle, Australia’s first door to door carbon neutral delivery service, is committed to levelling the playing field for the 90 percent of Australia’s businesses who operate with less than 10 employees.
It has grown faster than expected since launching over a year ago and now facilitates $100 million in small business commerce annually.
Sendle, has raised a record $5 million in a Series A funding round, the biggest single capital raise for a startup in the Australian logistics industry. This brings the total investment in the disruptive parcel delivery service to over $8 million.
Last month, the company also launched Sendle Satchels, to give small businesses a more convenient and cheaper way to send parcels weighing between 500g to 25kg around Australia. This service is available from $6.95, traditionally a price point that could only be reached if buying pre-purchased satchels in bulk from the post office.
The capital raised from the latest funding round will be used to fuel growth for Sendle and expand its offering of convenient, and carbon neutral parcel delivery to more small and micro-businesses.
The funding round was led by Full Circle Venture Capital and includes a number of venture capital firms: Black Sheep Capital, rampersand and Giant Leap, with NRMA as a returning investor. The significant capital raise solidifies Sendle as a legitimate alternative and strong competitor to Australia Post.
“We’re thrilled to have the backing of like-minded investors who share our vision of taking parcel delivery into the 21st century, making it simple and fair for Aussie small businesses,” said Sendle co-founder and CEO, James Chin Moody.
“The new funds raised will allow Sendle to unlock big business delivery networks for even more small businesses and enable us to develop new features while continuing to offer world-class customer support. We have a number of new products in the pipeline, as well as a series of partnerships that we’re excited to announce over the coming months,” said Chin Moody.
The capital raise follows a year of strong growth for Sendle, which includes the launch of new products and a number of high-profile partnerships with Etsy, NAB, NRMA, and Virgin Velocity Frequent Flyer programme. Last month, Sendle was awarded the 2016 NSW Telstra Business Award in the New Business category.
Rowan Grant, Partner, Full Circle Venture Capital said, “Sendle is company with strong leadership who are successfully taking on the entrenched monopoly of Australia Post. We were attracted by their strong growth and one of the most impressive management teams we’ve encountered in a startup. The capital being provided in this round will enable Sendle to accelerate their growth on the path to becoming a market leader.”
Daniel Gavel, Director, Black Sheep Capital said, “Sendle is one of the most impressive startups to cross our desks in recent times. A great founder and awesome team, a solution to a real pain point for SMEs, a product that people love, and a major distributor to a multi-billion dollar industry. We’re excited to be part of the Sendle journey over the coming years as they take on the Australian logistics market.”
Image (supplied): Jim Cassidy, rampersand; Simon Martin, Sendle; James Chin Moody, Sendle; Adam Milgrom and Amanda Goodman, Giant Leap; Rowan Grant, Full Circle Venture Capital.