This tech and logistics startup has raised $4.5 million in a new funding round

Parcelpoint, one of Australia’s largest national extended-hours network of local delivery, pickup and returns locations, has secured a $4.5 million raise in the company’s latest round of growth funding.

Parcelpoint makes online shopping easy. With a leading network of extended-hours locations, shoppers can simply choose where they collect and return their purchases, resulting in no more missed deliveries and a better customer experience.

Parcelpoint is currently available as a delivery or returns choice for people shopping with leading retail websites such as Amazon, eBay, ASOS, The Iconic and Showpo.

What does this funding mean for the startup?

Parcelpoint’s CEO & Co-founder, Julian Leach, said the funding will enable the business to expand its network of locations, support retailers in offering next day delivery through new product innovations, implement an electric-powered fleet of sustainable delivery vans and bring more retailers on to the network.

“We recently celebrated our one-millionth, unique customer,” said Julian. “So we’ve come a long way from the days when customers were picking up their parcels from my apartment in Bondi. Growth is accelerating so quickly, with new users up 103% 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 1400 extended-hours Parcelpoint locations across Australia.

“We’re now in a really exciting position to further enhance our customer offering in partnership with the top retailers and marketplaces in Australia. 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 eCommerce.”

Where did the funding come from?

The majority of the $4.5 million investment came from AS1 Growth Partners, a private investment firm focused on growth & technology investments.

AS1 Growth Partners is a newly formed investment vehicle of some of the existing investors who have backed Parcelpoint since inception.

The remainder of the funding was secured from other existing shareholders, including high-profile investors John Symond (Aussie Home Loans founder) and his son Stephen, and Alasdair MacLeod (through Macdoch Ventures).

After 8 years in business, and a recent rebrand, this raise comes at an exciting time for Parcelpoint.

“We’ve entered a new era following our re-brand, an era where our purpose, brand and culture are more aligned than ever” says Leach, “and with this funding boost we are able to ramp up our efforts to make it easy for Australians to get a parcel, wherever they are, whenever they like.”