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Aditya Hadi Pratama · · 1 min readAnt Financial-backed BAce Capital co-leads Vietnamese logistics firm’s $12m round
Loship, an ecommerce-focused logistics firm based in Vietnam, announced that it has raised US$12 million in its latest funding round.
More funding details
- Lead investors: BAce Capital, which counts Ant Financial as its largest limited partner, and the investment unit of Sun Hung Kai & Co.
- Other investors: Saudi Arabia-based Wealth Well, Singaporean firm Prism Ventures, Hong Kong-based SQ Capital, and MetaPlanet Holdings, which is backed by a Skype co-founder
- Stage: Pre-series C
More company updates
- Loship will use the fresh funds to step up its presence in key markets and expand to new regions. The company said it will also invest in a business-to-business delivery service for small food and beverage firms as well as mom and pop shops.
- Following the latest funding round, BAce Capital founder Benny Chen will join Loship’s board of directors. This investment is BAce Capital and Sun Hung Kai & Co’s first in Vietnam, according to a statement from Loship.
- The Vietnamese logistics firm currently has more than 70,000 drivers and 200,000 merchants on its platform, serving almost 2 million customers across Hanoi, Ho Chi Minh City, Da Nang, Can Tho, and Bien Hoa.
- The startup said it is in advanced talks for a series C round, which it expects to be completed by the end of this year.
- Earlier this year, it also raised an undisclosed amount of bridge funding in a round led by Metaplanet Holdings.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Arpit Nayak
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