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SINGAPORE – GoGoVan – an on-demand van service supported by Centurion Private Equity and Singapore Press Holdings in Singapore – raised $ 250 million ($ 340.7 million) in new financing .
its new round of financing, "said Friday the start-up
The Business Times understands that GoGoVan could be fundraising for a second phase of this round of financing, given the interest The start-up is also studying an initial public offering for short-term savings, learned BT.
The $ 250 million was led by InnoVision Capital, a San Francisco-based venture capital firm, and included other investors such as Alibaba, Cainiao Arm Logistics, Russia-China Investment Fund, Hongrun Capital, Qianhai Fund of Funds, and 58 Daojia Group.
This is the largest funding of GoGoVan to date, which it has raised only $ 26.5 million since its inception in 2013. The Hong Kong-based startup has raised fund for the last time in May 2016, a series ride C led by New York-based private equity firm New Horizon Capital. The amount collected at the time was undisclosed but reported by BT as being eight digits.
Steven Lam, chief and co-founder of GoGoVan, said on Friday: "We will use the new funds to expand our service offerings, and over the next few months we will be offering door-to-door service to meet the demand in the segment of small items. "
This means that a GoGoVan delivery partner will pick up small packages from collection points. BT learned.
GoGoVan merged last August with 58 Suyun, one of the largest intra-urban logistics hubs in China, which strengthened GoGoVan's presence. More than 300 cities in Hong Kong, Singapore, South Korea, India, China and Taiwan.
A mobile logistics app, GoGoVan allows anyone looking to move anything from small parcels to bulky vans. Other actors in the last mile distribution in Singapore include Hong Kong-based Lalamove and Singapore's Ninja Van
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