Homegrown on-demand courier platform Zoom2U secured AU$4.2 million funding, led by Perennial Value Management, to help grow its team, ensuring it continues to invest in building the platform and further increase its customer base in Australia.
Launched in 2014, the company has raised more than $7 million to date and completed 1 million deliveries.
Founder and CEO of Zoom2U, Steve Orenstein said, “We’re excited to announce our AU$4.2 million funding secured for Zoom2U, which we will use to grow our team. We continuously improve our platform allowing customers to find the perfect courier for their delivery and strengthening our position as a preferred delivery platform.”
Orenstein said there has been a huge rise in people adopting online shopping in Australia since the company launched in 2014, with a priority for convenience and fitting in with their fast-paced lifestyle.
“Zoom2U has become a great antidote, helping fix the often unreliable postage process. We are excited to connect more customers with couriers to help deliver more emergency documents, forgotten keys and bespoke Christmas gifts to Australians.”
Andrew Smith, Head of Smaller Companies & Micro Caps, Perennial Value Management said, “We’re delighted to invest in Zoom2U as a high-growth, innovative company using technology to connect consumers and businesses who want delivery within hours not days. Zoom2u is helping the e-commerce boom Australia is experiencing.”
Zoom2U now has over 2,000 drivers on the platform and Terry Sinclair, previously of Australia Post, recently joined the company’s board.