Alternative delivery platform Sendle, a growing favourite among small businesses, has abruptly cancelled all scheduled deliveries from today, January 12.

The company’s website announced the news; a statement issued by its public relations agency added: “Sendle has informed its customers that it is no longer taking any future bookings. We are not able to provide any further comment at this time.”

In an email sent to its customers, Sendle said that any parcels already in transit would be delivered “at the discretion of the delivery partner”. 

Founded in 2014, Sendle aimed to rival Australia Post. It became part of the US-based parent company Fast Group in August, after a merger with FirstMile and ACI Logistix.

The company has received investment from Touch Ventures, Federation Asset Management, Rampersand, and King River Capital.

Fast Group’s board has decided to wind up the company after it ran out of time to secure new funding, the Australian Financial Review reported, citing sources close to the company.

The sources added that ACI Logistix’s financial accounts were not up to scratch, and Federation Asset Management had to provide $12 million in working capital soon after the deal.

An earlier report from the AFR also revealed that Federation Asset Management had halted investor withdrawals from its second fund. About 64 per cent of the fund is invested in Fast Group.

Courier comparison site, Fast Courier, said the situation has raised an “important lesson” for small businesses depending on one delivery provider.

“Relying on a single courier can leave businesses exposed when something unexpected happens,” Vincent Maneno, Co-Founder of Fast Courier, said. “Comparing multiple providers and having alternatives in place gives businesses flexibility and resilience.”

Inside Retail approached Sendle for an update, the company decline to comment further.