Singapore's Janio bags US$8m investment from fintech company Choco Up

SINGAPORE logistics platform Janio has bagged a US$8 million investment from fintech company Choco Up, as part of a wider closed round bridge investment which includes funding from Innoven Capital and Janio's existing shareholders.

Choco Up's investment will allow Janio to boost its growth to meet rising industry demands, increase working capital, carry out expansion plans and take on new emerging markets and clients, both parties said in a joint press statement on Thursday.

Janio is a cross-border platform that provides end-to-end e-commerce logistics solutions in South-east Asia. Founded in 2018 and headquartered in Singapore, it has clients in Indonesia, Malaysia, Taiwan, China and Thailand.

It is backed by US venture capital firm Sequoia Capital, Singapore-based Vertex Ventures and Insignia Venture Partners.

Ng Junkai, Janio chief executive and co-founder, said: "Choco Up's backing and their fast-track funding system will provide us the quick capital necessary to carry out expansion plans with a peace of mind at this pivotal time for the industry."