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Sendle raises $19 million to manage ecommerce growth and expand

Australian courier service for small business, Sendle, has raised $19 million to help small businesses manage global ecommerce demand, expand the company’s shipping network and support its accelerated growth.

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The funding round, which was oversubscribed, welcomed venture capital firm, King River Capital, alongside Alberts Impact Capital and Marinya Capital as new Sendle investors. King River brings expertise across both Australian and US markets as Sendle expands internationally. They were accompanied by returning investors Federation, Rampersand, Full Circle Venture Capital and NRMA Insurance.

The new funding round comes as Sendle reached a milestone of half a million customers across Australia and the United States, demonstrating the increasing demand for 100% carbon neutral parcel delivery in both markets.

Sendle launched in 2014 to level the playing field for small businesses through sustainable shipping that is simple, affordable and reliable. It unlocks convenience and affordability to help small businesses in Australia and the US thrive at a time when demand for online shopping is skyrocketing.

Sendle is investing more to help small businesses compete in the face of massive eCommerce growth, with the ten-year growth trajectory in global activity occurring in just eight weeks. The additional capital will be used to ensure Sendle’s network is stronger and more reliable than ever, as well as ensure small businesses can deliver to increased customer demand in the coming months and ahead of Christmas.

Since launching in the US in November 2019, US volumes have seen rapid growth to reach one-fifth of the Australian business, exceeding the company’s initial growth forecasts and demonstrating the popularity of the small business shipping product in the US market.

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Sendle CEO and co-founder, James Chin Moody said: “During COVID-19, we’ve seen our economy and hundreds of thousands of Australian small businesses become more reliant than ever on a robust logistics network, so we want to make sure their parcels get to the intended destination efficiently, cost-effectively and sustainably. It’s pretty tough at the moment for everyone, but we’re throwing everything we can at ensuring our network is even more robust and reliable during these trying times.

“Thanks to the backing of King River Capital, Alberts and our existing investors, we will be able to invest even more in helping our small business customers compete during these critical times. Logistics is becoming an even more important part of the economy, and the small business economy in particular, and we stand ready to do our part.”