Delivery start-up Sendle raises $5 million

Internet Retailing

9th Aug 2016

Australian delivery start-up, Sendle, has raised $5 million in a Series A funding round, bringing the total investment in the parcel delivery service to over $8 million.

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 young company says the funding shows it is 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.

Launched a year ago, Sendle targets small and micro-businesses, offering door-to-door carbon neutral parcel pick-up and delivery.

“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.

“Sendle is company with strong leadership who are successfully taking on the entrenched monopoly of Australia Post,” said Rowan Grant, partner at Full Circle Venture Capital and Sendle investor.

“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.”