SingPost acquires 30% stake in e-commerce firm Hubbed

Singapore Post (SingPost) has acquired a 30 per cent stake in Australian e-commerce firm Hubbed Holdings for about A$4.3 million (S$4.45 million).

The investment was made through indirect wholly owned Quantium Solutions (Australia), which acquired 85,715 ordinary shares in Hubbed.

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In an announcement on Wednesday, SingPost said that if certain agreed performance benchmarks were met, Quantium would pay an additional A$1 million to Hubbed. Otherwise, Quantium would subscribe for another 5 per cent shareholding interest in Hubbed.

Hubbed, a one-stop e-commerce service aggregator, has built a network of some 680 newsagents to provide a parcel delivery service in every major city across Australia.

Its net asset value as at April 30 was approximately AS$0.94 million.

Said Sascha Hower, chief executive of Quantium and group chief operating officer of SingPost: “Now with this partnership with Hubbed, Australians get another level of flexibility – they can collect their parcels through one of the many newsagents in the Hubbed network . . . Customers will have more choice as they can pick up their parcels any time and at their own convenience.”

Added Dr Hower: “We are investing to develop an e-commerce ecosystem to provide seamless access to customers in Australia, and growing markets in Asia Pacific . . . This partnership with Hubbed, which complements CouriersPlease (a door-to-door delivery service across Australia), will help strengthen our e-commerce last-mile capability in the regional e-commerce logistics value chain in the region.”

Quantium’s CouriersPlease has extensive last-mile coverage across Australia and has a network of over 600 franchises nationwide. This enables SingPost to provide end-to-end solutions across e-commerce, forwarding, warehousing and delivery in Australia. SingPost said that to increase customer convenience, Hubbed will also be offering parcel drop-offs and sale of delivery products in the future.

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