Hong Kong-based delivery matching startup GoGoVan has today announced securing US$6.5 million in an investment led by Centurion Investment Management, with participation from a number of Singapore-based angel investors.
Steven Lam, Co-founder, GoGoVan
According to Steven Lam, Co-founder, GoGoVan, a big portion of the new funds will be used for international expansion. In addition, the firm is looking to expand into three new markets (Taiwan, Taipei; and Sydney and Melbourne, Australia) by the end of 2014.
To do so, the company is hiring across the region. Lam told e27 that they will probably open an office in Australia, while the specific location is still undetermined. In Taiwan, however, it has already opened an office. Currently, the team has a headcount of more than 50 staff members.
For background, the company specialises in matching consumers looking to deliver physical goods — be it a refrigerator or an old radio — with professional drivers who will transport those items to their intended destinations.
GoGoVan had launched its offerings in Singapore two months ago. To date, it has processed more than 3,000 transactions in the city-state with over 2,000 vehicles on its platform. Traction in the Southeast Asian country has been “very encouraging,” he said.
In home country Hong Kong, GoGoVan processes more than 10,000 transactions a day with over 18,000 vehicles on its platform.
GoGoVan is a rapidly expanding delivery-van reservation and renting service. It allows customers to request a van and driver for short deliveries.
6.5M Series A Investors:
Centurion Investment Management
Centurion Investment ManagementHong Kong
Centurion Investment Management (Hong Kong) Ltd, (“CIM”) is a boutique Asian private equity company investing in small to middle market companies.