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."
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Grab-led GXBank teams up with Zurich to offer affordable insurance
GoTo eyes private placement of 120.1 billion shares
SoftBank leads US$1 billion funding for UK self-driving startup Wayve
Singapore battles to revive struggling stock market
NSG BioLabs bags US$14.5 million funding; inks tie-ups with Merck, EnterpriseSG
Singapore’s Anywheel gets green light to expand fleet to 35,000