Sendle, one of the many interstate couriers in Melbourne, and the AU’s only 100% carbon neutral courier service recently underwent a round of Series B funding, with the aim of accelerating the company’s growth, reinforce its competition against Australia post, as well as help finance the company’s exploration into international markets.
The courier company managed to raise $20 million, with the funding led by Federation, investing alongside returning investors Full Venture Capital, Giant Leap, and Rampersand.
Sendle launched back in 2014, to offer small businesses an option other than Australia Post, offering carbon neutral door-to-door delivery at national flat rates, available for smaller businesses. The aim of the startup was to deliver the powers of interstate couriers in Melbourne and across the country; convenience and affordability, to smaller businesses, saving owners time, money, and a trip to the Post Office.
The Australia Post competitor has struck a chord with small business owners across the AU, which has resulted in Sendle enjoying strong and consistent annual growth. Since its founding in November 2014, Sendle’s deliveries have managed to travelled more than 4.3 billion kilometres – the distance from Earth to Neptune, or going to and back to the Sun 14 times. The company’s deliveries have facilitated at least a quarter of billion dollars in eCommerce for small businesses every year, and its customer base grew by 600% in the last two years.
Sendle CEO and Co-Founder James Chin Moody says that they’ve always had one aim at the company; to level the playing field by giving small businesses access to the delivery infrastructure that big businesses enjoy, to offer a cheaper and more convenient alternative to Australia Post, which they describe as a 200 year old functional monopoly, one that has remained, for the most part, unchallenged. Their recent funding, Moody says, will ensure that the company that they can keep up their ‘Post without the Office’ campaign in 2019, and to educate the market about other options.
The funding that Sendle got from Series B will be used to fund new product launches, partnerships, as well expanding into new overseas markets, as the company works to step onto the global stage.