ParcelPoint to double network

ParcelPointOnline retail delivery network, ParcelPoint, has completed a $7 million financing round led by Blue Sky Venture Capital.

CEO and co-founder, Mehdi Fassaie, said the capital injection will support ParcelPoint’s network and team expansion.

“We plan to more than double our network and retailer partnerships and expect our headcount to grow by around 50 per cent over the next financial year,” Fassaie said.

ParcelPoint has partnered with more than 100 major retailers such as Adidas, The Iconic, and Surfstitch, as well as pharmacies, newsagents, convenience stores, and storage facilities, offering extended hours parcel collection points to collect and return online purchases seven days a week and after hours.

The network also includes major retail groups such as Mirvac, Civic Video, Kennards Storage and Storage King, as well as a number of independent stores.

Blue Sky Venture Capital, investment director, Elaine Stead, said ParcelPoint is redefining traditional e-commerce delivery and return processes.

Launched in 2011, ParcelPoint’s network includes more than 1500 retail stores across the country.

 

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.