BLUE SKY LEADS CAPITAL INJECTION FOR POSTAL CHALLENGER

Written on the 2 March 2015

BLUE SKY LEADS CAPITAL INJECTION FOR POSTAL CHALLENGER

BLUE Sky Alternative Investments Limited's (ASX:BLA) venture capital arm has facilitated a $7 million financing round for an online retail delivery company.

ParcelPoint allows online shoppers to collect and return their purchases beyond traditional postal services, with more locations and extended hours.

Blue Sky Venture Capital investment director Elaine Stead says ParcelPoint is challenging the norms of e-commerce.

"ParcelPoint's business is so compelling because its solutions remove the friction for all stakeholders in the online retail process retailers, carriers and most importantly, the consumer," Stead says.

"We are backing a team with incredible credentials who, in just over three years have built an incredibly successful business with multiple revenue streams in a market with a huge opportunity for growth."

ParcelPoint has partnered with more than 100 retailers since it was established in 2011, including Adidas, The ICONIC, OzSale and Surfstitch.

By operating out of pharmacies, newsagents, convenience stores and storage facilities, the company can offer the collection service seven days a week and after hours.

ParcelPoint CEO and co-founder Mehdi Fassaie says the injection of capital will be invested in growing the network, as well as expanding the team.

"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 says.

ParcelPoint's co-founders also include Julian Leach, Phil Lee, Conrad Yiu and Mark Coulter.


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter