More shares in Singapore business
The Singapore market is becoming more and more interesting for European investors. Geopost, an affiliate of the DPD Group, is increasing its stake in Ninja Van to 40%.
Launched in 2014, Ninja Van started operations in Singapore and has now become a fast-growing last-mile logistics company in the region, with a network covering six countries in Southeast Asia - Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam. Geopost's move follows after three years of collaboration with the company.
At the same time, new investors, such as the Chinese e-commerce player Alibaba Group, have bought shares in Ninja Van, which just raised USD 578 million in a series E funding from existing and new investors. Alibaba is but one of them.
The French group's first step in acquiring a minority stake in the parcel delivery service business in South East Asia dates back to 2018. Over the past three years, Ninja Van has seen its delivery volumes drop from 30 million (2018) to nearly 500 million packages (2021) per year. (sh)