South-East Asian delivery company Ninja Van has raised US$279 million from a diverse group of investors, including La Poste subsidiary GeoPost, to continue its regional expansion drive.
Other investors in the Series D funding round included Facebook co-founder Eduardo Saverin’s B Capital Group, Monk’s Hill Ventures, Carmenta, Golden Gate Ventures Growth Fund, Intouch Holding, Grab and two sovereign wealth funds. The size of the individual investments and the investors’ resulting stakes in the company were not disclosed.
CEO Lai Chang Wen said: "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 South-east Asia."
Singapore-based Ninja Van plans to use the fresh capital to expand its business activities in South-East Asia where it is currently active in Singapore, Malaysia, the Philippines, Indonesia, Thailand and Vietnam.
The company claims to deliver about one million parcels daily in these six countries for some 35,000 shippers across South-East Asia, including leading regional e-commerce platforms such as Alibaba-owned Lazada, Shopee and Tokopedia. It also operates parcel shops in Singapore under the name Ninja Points.
