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$4.5m raised for guaranteed next-day delivery

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$4.5m raised for guaranteed next-day delivery

Parcelpoint CEO Julian Leach

An Australian logistics start-up has raised $4.5 million in capital in its latest round of fundraising, with the money going towards the creation of a “guaranteed next-day delivery service”.

Parcelpoint announced on Tuesday (18 June) that it had completed the latest round of fundraising from investors and existing shareholders, as it continues to work on developing a network capable of national next-day delivery.

The start-up’s co-founder and CEO, Julian Leach, added that the funding would also go towards building a fleet of electric delivery vans — a measure that was also recently announced by retail giant IKEA.

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According to Mr Leach, Parcelpoint recently surpassed 1.2 million unique customers, with its customer base growing at a rate of 103 per cent year-on-year.

“This funding will enable us to fast-track our expansion plans, while maintaining our market-leading customer experience. Throughout the last eight years of operation, we’ve partnered with many of the biggest retail brands, and we’ve built the largest network of 1,400 extended-hours Parcelpoint locations across Australia,” he said.

“We have some really exciting product developments in the pipeline, which will make deliveries even easier — and a lot more sustainable — for Parcelpoint customers.

“We’re currently rolling out a guaranteed next-day delivery service, using electric vans and pedal power where possible, in a market-first initiative to combine fast and sustainable delivery for e-commerce.”

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Most of the funding raised in this latest round came from private investment firm AS1 Growth Partners, a primary backer of Parcelpoint since its inception in 2011.

Other backers include “Aussie John” John Symond — the high-profile founder of Aussie Home Loans — and his son Stephen, as well as former News Corp managing director Alasdair MacLeod through his private investment company Macdoch Ventures.

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$4.5m raised for guaranteed next-day delivery
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