- Australian courier startup Sendle has raised $20 million in Series B funding.
- Federation Investment led the round, along with Full Circle Venture Capital, Rampersand and Giant Leap.
- The cash will be used to accelerate growth, take on competitor Australia Post, and begin its expansion into international markets.
- Federation’s Head of Private Equity, Neil Brown, will also join the Board.
Australian package delivery startup Sendle has raised $20 million in Series B funding.
The latest round was led by Federation, who are investing alongside Full Circle Venture Capital, Rampersand and Giant Leap as returning investors, and will be used to accelerate growth, double down on its competition with Australia Post, and begin its expansion into international markets.
Sendle CEO and Co-founder, James Chin Moody says the funding will help the company with its mission to “level the playing field by giving small business owners access to big business delivery infrastructure”.
“We exist to offer a cheaper and convenient alternative to Australia Post — a 200 year old functional monopoly that has remained largely unchallenged up until now.
“The new funding will ensure that we’re well resourced to ramp up our ‘Post without the Office’ fight in 2019 to educate the market about their options.”
As part of its investment, Federation’s Head of Private Equity, Neil Brown, will also join the Sendle Board.
“James and the team at Sendle are solving a critical issue for their customers in the fast-growing SME eCommerce sector with their innovative business model, and we are excited by their prospects for strong continued growth in Australia and abroad,” said Brown.
The Series B round follows 12 months of record growth and product innovation for the business which launched in 2014.
Last year, it announced the launch of a price guarantee, a two-day delivery guarantee, a 24 hour drop off service and a partnership with Pitney Bowes.
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