Ninja Van secures $578m in Series E funding

Singapore based last mile delivery giant Ninja Van has landed $578 million in Series E funding. This comes ahead of an expected flotation on the US stock markets in 2022.

Investors in the round include China’s Alibaba Group, as well as existing investors Geopost/DPDgroup, B Capital Group, Monk’s Hill Ventures, and Zamrud.

According to Ninja, this and the $278 million secured in 2020 is to support a ‘sustainable long term cost structure’, adding that the funds will also support the quality and consistency of its operations.

The logistics firm has operations in six Southeast Asian countries including Thailand, Indonesia, the Philippines, Vietnam and Thailand. Currently it handles around 2 million parcels every day. It has around 61,000 staff and delivery personnel.

Ninja Van Group’s co-founder and CEO Lai Chang Wen said in the statement: “The quality of investors joining us in this round of investment is a clear signal that the market recognises the emerging opportunities for e-commerce logistics in Southeast Asia and how as an entrenched player in the region, Ninja Van is positioned to take a central role in meeting the shifting demands of both businesses and consumers. We remain committed to the success of all our business partners as we move towards the next stages of sustainable growth and continued innovation.”

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