Tech-enabled, last-mile logistics provider Ninja Van today announced that they have received a US$30 million of funding in a round led by Abraaj Group. The investment also includes existing investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital.
The company plans to use the funding to roll-out its services to new markets such as Thailand, Vietnam and the Philippines by the end of 2016.
It also plans to improve its customer-centric systems and triple customer service headcount across the region, which includes revamping operational and customer support processes in conjunction with extensive training.
“This vote of confidence from Abraaj and our other new investors will allow us to expand beyond tier-one cities in Southeast Asia to provide extensive coverage to support the growth in e-commerce, and build our ecosystem aggressively to offer a better experience than incumbents and smaller competitors. Continued investments in developing our people and technology, and an acute focus on customer service and customer loyalty, uniquely positions us to redefine logistics in Southeast Asia,” said Ninja Van CEO and Co-Founder Chang Wen Lai.
Ninja Van currently has operations in Singapore, Malaysia and Indonesia. Starting out as a logistic provider for e-commerce businesses, Ninja Van claimed that it now supports over 3,000 clients across different industries, delivering approximately 15,000 parcels per day.
Previously, Ninja Van secured a US$2.5 million Series A led by Monk’s Hill Ventures in March 2015.
This investment, conducted by one of Abraaj Group’s funds, marks the group’s 28th investment into Southeast Asia. It has been active in the logistics sector, and had also invested in Urbano (a leading courier and light logistics solutions company present in Peru, Ecuador and El Salvador) and Aramex (the deal was reported to be one of the most successful public-to-private transactions in the Middle East).
Image Credit: Austin Prock on Unsplash.com