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NEWS: Vietnamese logistics firm Scommerce secures funding in Temasek-led round

Vietnam’s e-logistics services provider Scommerce the parent company of delivery startups GHN and AhaMove has closed its latest and largest funding round led by Singapore’s state-owned investment company, Temasek. The funding amount was not disclosed, but as reported by DealStreetAsia, it could be worth up to US$100 million, making it potentially one of the largest deals in the country this year.

 

Founded in 2012, Scommerce is one of the leading e-logistics service providers in Vietnam, offering last-mile express and instant delivery, as well as business-to-business trucking and fulfillment services under the brands GHN and AhaMove. GHN and AhaMove have been delivery partners for Vietnam’s four largest ecommerce platforms – Shopee, Tiki, Sendo, and Lazada – as well as over 100,000 online small and medium-sized merchants.

The new funding will be used toward expanding GHN and AhaMove’s nationwide coverage and capacity, as well as investments in tech enhancement and automation, according to a press statement released by Scommerce.

Pham Huu Ngon, chief technology officer and CEO of AhaMove, added that the investment will also be used to focus on “the four-hour and same-day delivery services, expand our coverage in suburban districts, and most importantly, integrate deeper into GHN’s existing infrastructure to optimize delivery cost for our merchants.”

According to the recent e-Conomy SEA 2019 report published by Google, Temasek, and Bain & Company, Vietnam is emerging as the most digital of all economies in Southeast Asia. According to research by Singapore-based Cento Ventures and ESP Capital, Vietnamese startups raised a total of US$246 million in the first half of this year, and the country’s aggregate funding amount is predicted to top US$800 million by the end of 2019.

Temasek Holdings previously said it was looking to increase investment in “aspiring unicorns” in the region, as reported by Nikkei Asian Review.

Source: https://www.techinasia.com/