Delivery service MrSpeedy secures $15m to dominate Southeast Asia

Dostavista, the Russia-based company that operates crowdsourced delivery service MrSpeedy, has raised US$15 million in a series B funding round led by Vostok New Ventures, as well as existing investors Flashpoint and Addventure.

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Founded in 2012, Dostavista said it’s already profitable. It will use the funding to boost its presence in Southeast Asia, strengthen its global team, and continue its focus on “new bold experiments,” marketing, and sales.

The company uses algorithms to fulfill its promise of delivering items in less than 90 minutes. Customers can request a delivery on a Dostavista or MrSpeedy website or app, then a courier will pick up and deliver the item.

The company first forayed into Southeast Asia in July 2017, with Indonesia carrying its MrSpeedy label first. In the second half of 2018, it launched in Thailand, Vietnam, the Philippines, and Malaysia.

Dostavista noted that these countries had shown double-digit month-on-month growth. And with the fresh funds, it now looks to expand its reach in the region.

The company currently operates in 11 countries, including Brazil, India, Korea, Mexico, Russia, and Turkey, employing almost 400 people. It looks to promote same-day delivery as a dominant delivery option, as its annual gross merchandise volume run rate is currently approaching US$100 million, it said.

The company claims to have deployed over 1 million registered couriers globally, with customers ranging from individuals to Fortune 500 organizations.