Australia’s first 100% carbon neutral parcel delivery service, Sendle, has become the global leader for small business shipping after raising $45 million in a Series C funding round, led by Afterpay-backed AP Ventures alongside existing investors including Federation, Full Circle and NRMA.
Sendle has more than 800,000 users globally and its Australian shipping business has doubled in size during the pandemic, with parcel volumes increasing by 103% over 2020. In the US, where Sendle launched in 2019, it has experienced equally strong growth with parcel volumes increasing tenfold.
Sendle has ambitious plans in the US to reshape parcel delivery for small businesses and compete with incumbent monopoly providers as it has done in Australia. Funds raised from the Series C will drive investment in a powerful logistics network.
Sendle CEO and co-founder, James Chin Moody said it is exciting to have the backing of AP Ventures with the alignment between Sendle and Afterpay. “Sendle and AP Ventures share a deep knowledge of the ecommerce ecosystem and an understanding of how to create value for small businesses,” he said.
“As we gear up for further growth in the United States, AP Ventures brings valuable experience in international expansion through Afterpay’s own success in North America as the number one buy-now-pay-later service. With the ecommerce opportunity exploding right now, funds from Series C will go a long way towards ensuring we are well positioned for our next phase of growth.”
AP Ventures, in which Afterpay is the largest shareholder, has a particular focus on retail innovation, consumer, finance and data. As part of its investment, AP Ventures CEO, Hein Vogel will join the Sendle board.
“Parcel delivery is the backbone of today’s ecommerce ecosystem as more people shop and sell online. As this trend continues to grow, so will the importance of small business shipping in helping online sellers create a meaningful competitive advantage so they can thrive in the age of ecommerce,” Vogel said.
Feature image: AP Ventures CEO, Hein Vogel and Sendle CEO and co-founder, James Chin Moody