Independent furniture transport startup HubHub today announced they raised additional funding to grow its business. Investors in the round are Heuvelrug Participaties and Salamander Investment Netherlands (SIN), who jointly put up ‘a couple of hundred thousand euros’.
Amstelveen based HubHub offers transportation solutions for anything that doesn’t fit into a regular package. It primarily focuses on purchases via sites like Marktplaats, auction sites and (online) furniture stores. HubHub takes care of the full transport process from packaging to delivery.
A way the service differentiates from other transport firms is its modern take on service. Instead of only providing a specific day, or morning/afternoon slot HubHub offers delivery planning per 15 minutes. It also offers delivery in the evening or during the weekend, while temporary storage and delivery to a specific floor or also possibilities.
The young firm managed to grow its business with 50% during 2013 and now employs over 50 people (which likely includes a lot of temporary/part-time workers). The recent funding is meant to further increase the rate of growth. Frederik van Beuningen (Heuvelrug Participaties): “With the strong growth of HubHub following our earlier investment it has validated its offering. HubHub clearly has the potential to post significant growth.”
Heuvelrug Participaties is a small growth investment fund in which (among others) the family Van Beuningen (also investors in SHV and Teslin, as well as one of the wealthiest families in the Netherlands) have a significant stake. Heuvelrug already took part in an earlier funding of HubHub and through the new funding has managed to increase its stake. The other investor, SIN, is a small investment fund funded and run by alumni of business school INSEAD.
Photo by Pieter van Marion (creative commons via Flickr)