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.
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.”
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.