Singapore’s logistics-tech platform Ninja Van nabs US$279M in Series D
Singaporean logistics-tech platform Ninja Van has secured US$279 million in a Series D round of funding from new and existing investors, including Geopost and Facebook Co-founder Eduardo Saverin’s B Capital Group.
Other participants are US-based Carmenta Capital, Brunei’s state-owned fund Zamrud Sovereign Wealth Fund, Bangkok Bank, Thai telco Intouch, Grab, Monk Hill Ventures and Golden Gate Ventures Growth Fund also joined the round.
Ninja Van has officially confirmed the news in a press release statement.
Founded in 2014, NinjaVan is a tech-enabled delivery system operating in Southeast Asia. It offers custom solutions for different individuals to fulfil their logistics needs.
“We have always maintained a razor-sharp focus on strengthening Ninja Van’s core business in express logistics, and a keen drive for operational excellence powered by our tech and customer success enablement,” said Mr. Lai Chang Wen, CEO of Ninja Van.
“We are grateful for our strong base of strategic partners who continue supporting us through all market conditions – now more than ever. This new capital injection enables us to keep our focus on offering hassle-free delivery solutions for sellers and their customers across Southeast Asia.” he continued.
The firm also recently launched Ninja Direct, a feature that helps online sellers, source, purchase, ship and finance wholesale products.
In a recent interview with the Peak, Lai also spoke about the changing landscape for retail companies amid the COVID-19 crisis.
“The big question here is, when will social distancing end? Retail may open again, but will footfall remains the same in the next year? Previously, online was considered ancillary to the overall revenue, but COVID-19 has forced the retail world to shift online,” he said.
Ninja Van recently also launched a national movement for individuals and organisations, #SGPAYSITFORWARD, where people can help vulnerable communities in Singapore by buying an essential care package.
The company raised its Series C round in January 2018, led by international parcel delivery firm DPD Group.