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SINGAPORE Post has invested about S$4.6 million in Australian e-commerce firm Hubbed Holdings, acquiring a 30 per cent stake through its indirectly wholly-owned subsidiary, Quantium Solutions (Australia).
Hubbed is now an associated company of SingPost.
If certain agreed performance benchmarks are met, Quantium Solutions will pay an additional S$1.06 million to Hubbed. Otherwise, Quantium Solutions will subscribe for an additional 5 per cent shareholding interest in Hubbed.
Hubbed is a one-stop e-commerce service aggregator, and has a built network of some 680 newsagents to provide a parcel delivery service in every major city across Australia.