Singpost invests SG$4.6mln in e-commerce firm Hubbed

Singpost has acquired a 30% stake in Australian e-commerce company Hubbed for SG$4.6 million.The investment was made through Quantium Solutions (Australia), which is wholly owned by SingPost Group.This initiative aims to make e-commerce delivery services to Australian customers more convenient through the partnership.Hubbed, a one-stop ecommerce service aggregator, has built a network of some 680 newsagents to provide a parcel delivery service in every major city across Australia.To heighten customer convenience, Hubbed will also be offering parcel drop-offs and sale of delivery products in the near future.Sascha Hower, CEO of Quantium Solutions said: "Ecommerce is all about having multichannels - for speed and getting parcels to customers at the times that suit them.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. Hubbed's news agents are a traditional feature of many suburbs and communities.”Hower, who is also group chief operating officer of SingPost, said: "We are investing to develop an ecommerce ecosystem to provide seamless access to customers in Australia, and growing markets in Asia Pacific. This partnership with Hubbed, which complements CouriersPlease, will help strengthen our ecommerce last mile capability in the regional ecommerce logistics value chain in the region."David Mclean, CEO and founder of Hubbed, said: "Hubbed is excited to be working with SingPost. We firmly believe there is a better way for consumers to experience ecommerce. This partnership is critical to us delivering on that objective. Singapore Post, alongside CouriersPlease and The Australian Newsagents Federation are key parts of our strategy."