Ninja Van raises US$279m in Series D funding round

LOGISTICS provider Ninja Van has raised US$279 million in its latest Series D funding round led by existing investor GeoPost and two sovereign wealth funds,

The round also saw returning participation from Eduardo Saverin's B Capital Group, and Monk's Hill Ventures. Carmenta, Grab, Golden Gate Ventures Growth Fund and Intouch Holdings also joined the funding round.

The new capital injection will help Ninja Van focus on offering delivery solutions for sellers and their customers across South-east Asia, said the startup's chief executive Lai Chang Wen.

Ninja Van will continue to execute its vision to create an ecosystem providing value-added services to small and medium-sized enterprises and direct-to-consumer brands in the region.

The startup will also deepen its foray into the business-to-business (B2B) sector to support the logistical demands of the traditional sector.

"We have always maintained a razor-sharp focus on strengthening Ninja Van's core business in express logistics, and a keen drive for operational excellence powered by our tech and customer success enablement," Mr Lai said.

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Said Mr Saverin, the co-founder and managing partner of B Capital Group: "Over the years, Ninja Van has demonstrated an excellent grasp on running and growing a strong, thriving business and delivered tremendous value to their partners." Mr Saverin is also one of the co-founders of Facebook.