Singapore-based last-mile delivery service Ninja Van has received “at least” $87m in series C funding from investors including logistics service provider DPD Group, Tech in Asia reported today.
The company itself did not disclose the amount raised and Tech in Asia did not cite the source for its article, though an undisclosed source subsequently told Reuters the size of the round was “about $85m”.
Founded in 2014, Ninja Van offers last-mile delivery and return collection services to e-commerce companies, and told Tech in Asia it is responsible for the delivery of millions of packages each month across Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam.
The funding will go to expanding the company’s cross-border business and strengthening its technology. Goldman Sachs was financial adviser to Ninja Van on the deal while Allen & Overy provided legal counsel.
Venture capital firm Monk’s Hill Ventures led Ninja Van’s $2.5m series A round in 2015, participating alongside investment holding company Insas.
Ninja Van added $30m in a series B round the following year. Private equity firm Abraaj Group led the round, which included internet company Yahoo Japan’s corporate venturing unit, YJ Capital, as well as Monk’s Hill Ventures and B Capital Group.