GetSwift lists on Australian Securities Exchange
Logistics management software company GetSwift has today (9 December) started trading on the Australian Securities Exchange (ASE). In a statement issued today, GetSwift announced that it raised its maximum subscription of A$5m in an oversubscribed initial public offering (IPO), led by Cygnet Capital, which closed early.
GetSwift has developed a software-as-a-service (SaaS) platform that streamlines delivery and logistics channels, providing a “global solution for last-mile delivery services”.
The company says that its aim is “to provide businesses of all sizes with the ability to dispatch, track and set routes as efficiently and effectively as the world’s largest multinational logistical distribution brands”.
GetSwift’s customers include JustEat; Australian food chain QSRH (which owns Red Rooster, Oporto and Chick Treat); the hardware store chain, Mitre10; and the food and beverage group, Lion.
In the US, GetSwift’s customers have included Best Deliveries, a Los Angeles-based B2B express courier.
According to the company, the platform is currently used in more than 300 cities throughout Australia, the US, Latin America, Europe and Asia. It also claims that it is being used in “more than 30 industry verticals”, including courier & messenger, food and beverage distribution services, restaurant deliveries, removal services, groceries companies, florist delivery groups and parcel services companies.
GetSwift’s management team is headed up by managing director Joel Macdonald.
A former AFL player with the Melbourne Demons, Macdonald co-founded one of Australia’s first alcohol e-commerce platforms, Liquorun.com. He was also a founder with on-demand logistics company Distributed Logistics and Zwype.com, a hospitality payment platform.