Singapore's Ninja Van raises $578m Series E

B Capital Group, Monk’s Hill Ventures, Brunei sovereign wealth fund Zamrud, and Geopost, a logistics division of France’s La Poste, also took part. Geopost, which led a $179 million Series D last year, is participating via its parcel delivery unit DPD Group.

The capital will be applied toward infrastructure and technology buildouts with a view to optimising the company’s exposure to Southeast Asia’s e-commerce space. Alibaba, which is the parent of regional online shopping platform Lazada, is expected to provide support in this regard.

"We strongly believe in the potential of e-commerce in Southeast Asia, in particular the power of technology-enabled logistics to fuel e-commerce growth,” Kenny Ho, head of Southeast Asia investment at Alibaba, said in a statement.

“With Ninja Van's vast presence and extensive local insights in the region, we are confident that our partnership with Ninja Van would enable us to better serve participants in the e-commerce ecosystem across the region.”

There are more than 61,000 staff, including delivery personnel, connecting over 1.5 million active shippers with close to 100 million recipients and delivering around two million parcels a day in six ASEAN countries. This compares to around 30,000 staff facilitating one million parcel deliveries a day at the time of the Series D.

Ninja Van is estimated to have raised more than $970 million since its inception in 2014, with previous investors also including YJ Capital, The Abraaj Group, Gate Ventures, Grab, Intouch Venture Capital, and US-based Carmenta Management.

“With our dominance and expertise in Southeast Asian e-commerce logistics, we have nurtured an ecosystem that provides value-added services to small and medium-sized enterprises as well as direct-to-consumer brands across Southeast Asia,” Ninja Van CEO Lai Chang Wen added.

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• Topics
• Southeast Asia
• Consumer
• Support services
• Expansion
• Singapore
• Alibaba Group
• B Capital
• Monk's Hill Ventures
• Logistics
• e-commerce