Home Breaking News SiCepat bags US$ 170M in Series B funding

SiCepat bags US$ 170M in Series B funding

Indonesian Startup

SiCepat bags US$ 170M in Series B funding
SiCepat bags US$ 170M in Series B funding

Indonesia-based last-mile delivery startup SiCepat Ekspres announced in March 2021 that it has bagged US$ 170M in a Series B funding round from Temasek subsidiary Pavilion Capital, Falcon House Partners and MDI Ventures. Other funding round participants include DEG (the German Development Finance Institution), Indies Capital, Trihill Capital and Daiwa Securities.

The Kim Hai, co-founder and CEO of SiCepat’s parent company Onstar Express said the funding round is intended to strengthen SiCepat’s position as the leading end-to-end logistics service provider in the Indonesian region and to explore expansion to other markets in Southeast Asia possibly.

About the startup

SiCepat
SiCepat Ekspres

Rudy Swigo and The Kim Hai founded SiCepat Ekspres in 2004. The startup provides customised shipping services with pricing based on the size of the package and delivery speed. Users also get an option to subscribe to a particular plan on SiCepat’s mobile app. It offers nine services to Indonesian residents. 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 takes place within 8 hours and this service is available in Jabodetabek, Bandung, Yogyakarta, Solo, Semarang and Surabaya.

6. SPEED SHARIA: With this service, a SiCepat user can donate every postage discount received 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 grant the same value. An accountability report of all donation values ​​is also issued every six months to the donors.

7. H3LO: Available in Java and Bali cities 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 contact no. 0813-1920-0030 or click on the link: bit.ly/SiCepatklik to use QUICKLY CLICK.

Words from the investors

Sebastian Togelang, Managing Partner of Kejora Capital, said the Indonesian e-commerce market stood at US$32 billion in 2020 and expects to increase and reach US$82 billion by 2025. He believes that SiCepat is ideally placed to cater to its customers, from e-commerce giants to rising social commerce players who contribute a projected 25 per cent to the total digital commerce economy.

The startup claims to be profitable and has delivered more than 1.4 million packages daily in 2020.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Story

Previous articleGreen Li-ion raises US$ 3.45M in seed funding
Next articleAmerican Fintech startup Flourish raises US$ 1.5M in Series A funding
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.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here