Saturday, Aug 13, 2022
International Finance
Featured Logistics

Australian logistics startup Shippit launches in Singapore

Shippit Singapore
It has partnered with Shopify to provide its cash-on-delivery service

Australia-based logistics software-as-a-service (SaaS) startup Shippit has launched its operations in Singapore with an aim to further expand in the Southeast Asian region, the media reported.

Shippit has partnered with Shopify to provide its cash-on-delivery service to its customers in Singapore. The partnership will allow merchants on the online platform to provide the service as a payment option regardless of order volume of business size.

Shippit’s director of market development Lavneesh Arora said told the media, “Southeast Asia has one of the fastest-growing internet economies in the world and, due to the COVID-19 pandemic, we’ve seen a rapid acceleration of e-commerce, with many businesses realising they need to go online. However, we’ve also seen the majority in Southeast Asia are still heavily reliant on cash over credit cards and online banking.”

Established in 2014, Shippit has raised around $10 million in funding so far in separate funding rounds.

Shippit accomplishes more than 50 million deliveries a year, serving 6,000 customers per month across Australia, New Zealand, and Southeast Asia. And it claims to be the first Asian platform that provides carbon-free deliveries on all shipments with no added cost.

Earlier this year, another Singapore-based logistics startup Moovas raised $7 million in a fresh funding round. The funding round for Moovas was led by venture capital firm Quest Ventures. Other investors who participated in the funding round include Supply Chain Angels and SGInnovate.

Moovas will use the funding to expand in China, India, and Spain. Reportedly, the funds will also be used to double down on its product builds and develop new business units and services for expats and “global-locals.”

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.