EUROPEAN courier service GeoPost has raised its stake in Singapore's Ninja Van to 40 per cent, remaining as the startup's largest shareholder, while Alibaba has poured US$200 million into the startup, regulatory filings seen by The Business Times indicate.

On Sunday, Ninja Van announced that it raised US$578 million from new investor Alibaba, as well as existing backers GeoPost; venture capital firms B Capital Group and Monk's Hill Ventures; and Zamrud, which is linked to Brunei's sovereign wealth fund.

Ninja Van did not provide a breakdown of investors' individual contributions nor its latest valuation. But back-of-the-envelope calculations by BT suggest its latest valuation stands at about US$1.85 billion, more than double from last year. The startup declined to confirm this.