Abraaj leads $30 mln funding for Ninja Van, Singapore logistics firm

Abraaj Group through a fund led a US$30 million fundraising for Ninja Logistics Pte Ltd , a Singapore provider of last-mile logistics operating in Singapore, Malaysia and Indonesia. Abraaj invested in the round alongside current investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital. The logistics firm, known as Ninja Van, plans to use the capital to expand to new markets, including Thailand, Vietnam and the Philippines, this year. Ninja Van also plans to triple its customer-service headcount across the Asia region while improving related systems. Abraaj, based in Dubai, manages $9.5 billion, including $1.4 billion in Asian sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.

Press Release

The Abraaj Group is lead investor in US$30 million funding round for Southeast Asia’s Ninja Van

Ninja Van is a technology enabled, last-mile logistics operator with operations in Singapore, Malaysia and Indonesia

Investment will drive growth into Thailand, Vietnam and the Philippines and strengthen Ninja Van’s leading position in Southeast Asia

Singapore, Singapore, 19 April 2016: The Abraaj Group (“Abraaj” or the “Group”), a leading investor operating in global growth markets, today announced that it led a US$30 million round of fundraising for Ninja Logistics Pte Ltd (“Ninja Van” or “the “Company”), a technology enabled, last-mile logistics provider with operations in Singapore, Malaysia and Indonesia.

The investment, led by Abraaj through one of its Funds, alongside existing investor Monk’s Hill Ventures and new investors B Capital Group and YJ Capital, marks Abraaj’s 28th investment into Southeast Asia. Logistics is a major beneficiary and enabler of the e-commerce sector in which Abraaj has been active. Abraaj has also made investments in the logistics sector including Urbano, a leading courier and light logistics solutions company present in Peru, Ecuador and El Salvador, and Aramex, one of the most successful public-to-private transactions in the Middle East.

Ninja Van takes an innovative approach to last-mile logistics, using sophisticated algorithms to solve complex logistics issues and optimise delivery routes. Their aim is to create a regional logistics ecosystem layering an integrated self-collection network (Ninja Collect) over deliveries, supported by a crowd-sourced fleet partner program to provide scalable capacity. The Company also forges partnerships with complementary transport fleets to optimise utilisation through its proprietary systems and capacity sharing model.

Having successfully executed their model in Singapore, Malaysia and Indonesia, Ninja Van plans to use the capital raised to roll-out this comprehensive approach to last-mile delivery in new markets, including Thailand, Vietnam and the Philippines, by the end of 2016. The Company will also make significant investments to improve its customer-centric systems and triple customer service headcount across the region. This includes actively revamping operational and customer support processes in conjunction with extensive training, to achieve a seamless and hassle-free experience for their clients and end customers.

While initially emerging as a logistics provider for e-commerce businesses, Ninja Van now supports over 3,000 clients across different industries, delivering approximately 15,000 parcels per day. The Company has an impressive client base that includes Southeast Asia’s leading e-commerce companies, as well as a broad range of large brick and mortar chains.

Commenting on the investment, Omar Lodhi, Partner and Head of Asia for The Abraaj Group, said, “Ninja Van is an innovative business that has developed an efficient logistics operation underpinned by strong technology and has grown tremendously in the past two years. We are impressed by Ninja Van’s technology platform, management and operational capabilities, and believe they are leading in a sector where innovation is required to succeed.”

Mr Lodhi added, “The Southeast Asia e-commerce sector is estimated to double in the next four years, with total e-commerce parcel delivery estimated to grow in line with the sector. Last-mile logistics, which is the backbone of e-commerce, remains a bottleneck, and Ninja Van is well-positioned to enhance the e-commerce experience for customers and businesses. As a key enabler of e-commerce businesses, Ninja Van plays an important role in the development of retail, jobs and entrepreneurship in the region and we are excited to partner with them.”

Chang Wen Lai, Co-Founder and Chief Executive Officer of Ninja Van, added: “We are on a mission to revolutionize the logistics industry in Southeast Asia. While maintaining a strong core fleet and customer support systems, now any store can be a Ninja Collect point and draw online foot traffic, anyone can deliver parcels during their spare time as a fleet partner, and any corporate fleet can tap into our fleet management systems and augment their spare capacity with our parcels.”

“This vote of confidence from Abraaj and our other new investors will allow us to expand beyond tier 1 cities in Southeast Asia to provide extensive coverage to support the growth in e-commerce, and build our ecosystem aggressively to offer a better experience than incumbents and smaller competitors. Continued investments in developing our people and technology, and an acute focus on customer service and customer loyalty, uniquely positions us to redefine logistics in Southeast Asia,” added Mr Lai.

The Abraaj Group has been present in Asia for over a decade and deployed over USD 1.4 billion in the region to date in a range of sectors including healthcare, financial services, logistics, e-commerce, consumer goods, and food and beverage.

The transaction is subject to customary closing conditions and is expected to conclude by the end of the month.