Home Funding SiCepat bags US$ 50M in Series B funding

SiCepat bags US$ 50M in Series B funding

Indonesian Startup

SiCepat bags US$ 50M in Series B funding
SiCepat bags US$ 50M in Series B funding
Jakarta Pusat, Indonesia-based logistics startup SiCepat Ekspres has bagged US$ 50M in a Series B funding round held in December 2020, from Praus Company.
The latest funding round gives the Indonesian startup a post-money valuation of US$ 736M, as per Accounting and Corporate Regulatory Authority filings collected by VentureCap Insights. Upon funding SiCepat, Praus Company has obtained an 8.3% stake in it, according to the data from the filings.
SiCepat Ekspres

Founded in 2004 by Rudy Swigo and The Kim Hai, SiCepat provides personalized shipping services with pricing based on the size of the package and delivery speed. Users also get an option to subscribe to a specific plan on SiCepat’s mobile app. It offers 9 services to the residents of Indonesia. They are as follows:

1. LUCKY: Provides fast shipping services at regular prices all across Indonesia. Users living in Jabodetabek and Bandung areas get deliveries within 15 hours.

2. BEST: Provides delivery of goods within a day in major cities of Indonesia.

3. GOKIL: Provides delivery of large-sized goods within 1-3 days.

4. HALU: This service helps deliver goods within 1-3 days and is used by e-commerce sites such as Shopee, Bukalapak & Tokopedia. Its postage rates start from 5 thousand rupiahs and are available in all the cities in Indonesia.

5. COD: This service gives customers the facility to pay via cash once their parcel reaches their doorstep. Delivery is done within 8 hours and this service is available in the cities of Jabodetabek, Bandung, Yogyakarta, Solo, Semarang and Surabaya.

6. SPEED SHARIA: With this service, every postage discount received by a SiCepat user can be donated to schools and Islamic boarding schools in the Cilacap and Lombok areas via collaboration with Dompet Dhuafa. For every 2.5% value donated by a user, SiCepat will also donate the same value. An accountability report of all donation values ​​is also issued every 6 months to the donors.

7. H3LO: Available in the cities of Java and Bali, at very economical and affordable shipping costs. 

8. FASTEST GO!: Provides delivery services to all the countries in Asia and Australia. Can be availed by users living in Jabodetabek, Bandung, Yogyakarta, Solo, Semarang and Surabaya.

9. QUICKLY CLICK: With this, users can check all the information regarding SiCepat Ekspres’ services such as shipping costs, shipping tracking, PPOB products among others. This service can be accessed 24/7 hours on WhatsApp itself. Simply type “SICEPAT” and send it on WhatsApp to the contact no. 0813-1920-0030 or click on the link: bit.ly/SiCepatklik to use QUICKLY CLICK.

SiCepat Ekspres

Besides Tokopedia, Shopee and Bukalapak, the Indonesian shipping company has partnered with other well-known e-commerce firms like Lazada and Zilingo Shopping for their delivery services.

It has multiple rivals including JNE, J&T Express, Lion Parcel, and Ninja Van, among others, in the delivery services sector.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.



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