Sendle, the 100% carbon neutral shipping carrier designed for small business, has raised a $35 million Series C funding round to expand further in the U.S. The funding round was led by Afterpay-backed AP Ventures alongside returning investors including Federation, Full Circle and NRMA.
The fast-growing company has more than 800,000 users globally, having experienced record growth in 2020 with COVID-19 accelerating the shift to eCommerce. In the United States, Sendle’s small business package volumes increased more than tenfold in 2020 compared to the previous year. Funds raised from the Series C will drive investment in building out Sendle’s U.S. network of logistics, delivery, and technology partners.
The raise comes during the most significant shift in retail the world has ever seen, as businesses both large and small moved further online as a result of the pandemic. Due to the surge in orders and deliveries, traditional carriers like UPS and FedEx have continually increased rates, squeezing small businesses unable to meet minimums where cost benefits begin. Sendle has ambitious plans to reshape package delivery in the U.S. by providing value and opportunity for small businesses and early stage startups, no matter how much volume they ship.
“Package delivery is the backbone of today’s eCommerce ecosystem. As ever-more people shop and sell online, small business shipping will only grow in importance. For small sellers, it’s a critical part of being able to compete on a level playing field,” said Hein Vogel, CEO of AP Ventures.
AP Ventures, backed by Afterpay as the largest shareholder, invests in high-growth, scalable companies with proven revenue models. It has a particular focus in retail innovation, consumer, finance and data, with a preference for businesses that are or can expand globally. As part of its investment, Chief Executive Officer Hein Vogel will join the Sendle board.
“As we gear up for further growth in the United States, AP Ventures brings valuable experience in international expansion with Afterpay as the number one buy-now-pay-later service in the U.S.,” said James Chin Moody, CEO and co-founder of Sendle. “Our Series C funding will help us to continue to reshape package delivery for small businesses in the U.S. We are excited to be working with an organization as passionate about creating value for small businesses as we are.”
Sendle launched in 2015 to democratize shipping for small businesses with sustainable package delivery that is simple, affordable, and reliable. It unlocks the power of big business logistics — convenience and affordability — to help small businesses thrive at a time when eCommerce is skyrocketing.
Since its launch, Sendle has recorded remarkable and consistent year-on-year growth, marked by product innovations and strategic partnerships. It integrates with all leading eCommerce platforms including Etsy, eBay, Shopify, Squarespace, and WooCommerce. Sendle is also the only 100% carbon neutral shipping service in the United States and Australia.
Sendle is the first carrier in the United States specifically designed to serve the needs of small businesses in the eCommerce space. Sendle levels the playing field for small businesses by offering affordable, flat-rate shipping across the U.S., with no hidden fees, subscriptions, or warehousing required. Merchants simply purchase a label and schedule a pickup from Sendle, and their package can be dropped off or picked up from their front door. Sendle is the first 100% carbon neutral shipping carrier in the U.S. and is a certified B-Corporation. The company was founded in Australia in 2015 by CEO James Chin Moody, and is headquartered in Sydney, Australia and Seattle, Washington.
About AP Ventures
AP Ventures Limited is an investment vehicle that invests in high growth, scalable businesses, with the aim of creating long-term value for its shareholders. AP Ventures typically invests $10m to $25m+ to help companies scale up to their full potential. AP Ventures has a global mandate and typical areas of interest include retail innovation, consumer, finance and data. Where appropriate, portfolio companies may also be provided with access to Afterpay’s platform, merchants and customers.