Pickupp Gets Series A+ to Further Expansion in 4 Major Countries

Date : 5-Jul-2021
Location: Kuala Lumpur

Organization:

Key Takeaways:

Pickup announced successfully raised approximately US$15 million in Series A and Series A+ financing from regional strategic investors, after its first-round investment in November 2020.
The series A+ round funding was led by Taiwan e-commerce giant PChome and Cornerstone Ventures, with participation from an existing investor, Swire Properties, and new investors including Cathay Venture Inc. and DRIVE Catalyst (the corporate venture arm of Far Eastern Group) from Taiwan and the Jardine Matheson Group and Zipx from Hong Kong.
The company will accelerate new expansion in Taiwan and deepen its presences in key markets including Hong Kong, Singapore and Malaysia.

Offering:

Founded in 2016, Pickupp is redefining logistics with a tech and data-driven approach. Its customized last-mile delivery services and trademark technology have earned a loyal customer base from notable MNCs and logistics giants to retail and e-commerce businesses.
Pickupp provides a platform to match delivery demands with independent delivery agents.
Core features include:

Through this funding, Pickupp Malaysia plans to expand coverage of more territories in Malaysia, grow its workforce of delivery agents, and continue investing in technology to further improve its offerings in the market, creating earning opportunities and supporting the recovery of businesses affected by the pandemic.

Spokepersons:

Crystal Pang, Co-founder and CEO of Pickupp,said,the pandemic has triggered a sudden and explosive growth in e-commerce sales which led to retailers looking for reliable, flexible and faster delivery solutions.
Kevin Tsai, CEO of PChome,said,a reliable fulfilment is a cornerstone.
Navin Kandapper, country manager of Pickupp Malaysia, said,in Malaysia, there has been a surge in demand for delivery services, especially through various stages of lockdowns and movement control orders.

Insights:

The funding allows Pickupp to seize and capitalise on the opportunities amid the soaring growth in e-commerce. In a new forecast by Forrester, online retail sales in Asia Pacific will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024, with a compound annual growth rate (CAGR) of 11.3%.
To date, Pickupp’s user base has grown by 250% since the outbreak of the pandemic in March 2020, with over 100,000 delivery agents onboard across all regions.
In Malaysia, the business has seen a user base growth of 198%, with earning opportunities created for 25,000 independent delivery agents.
In Malaysia, Pickupp partners with leading logistics giants, e-commerce players, and SMEs to develop and optimise the local logistics ecosystem.

Editor's comments:

Pickupp offers consumers and businesses with more choices for on-demand and last-mile delivery solution.
It is good that the platform offers API integration for partners to automate back-office processes.
It also offers job opportunities for people who want to work as delivery agents.
Think of Pickupp as an enabler of businesses,helping partners with last-mile deliveries - in turn,the more partners the better Pickupp can make money.

Deliver and earn with Pickupp platform

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