Malaysian e-commerce logistics company Epost has raised US$1.4 million from Warisan Quantum Management, a Malaysia-based private equity management firm.
The company plans to utilise the newly raised capital to enhance its product and expand the platform across Southeast Asia.
Launched in 2019, Epost is an e-commerce logistics company that provides cross-border delivery and e-commerce fulfillment services to brands and retailers. It also provides cloud-based integrated order, inventory, and warehouse management systems to ease logistics for companies.
Currently, its services are available across Malaysia, China, Singapore, Vietnam, the Philippines, and Brunei, with 13 e-commerce fulfillment warehouses located at key locations throughout Southeast Asia.
“In Southeast Asia, the e-commerce logistics industry has plenty of room for growth, especially in services that enable connectivity across national borders. We hope to transform the industry and create more value for all players throughout the e-commerce value chain with Epost’s solutions and technology,” said Tobin Ng, CEO of Epost.
“This round of funding marks our very first investment into a Sabah-based startup. The investment made in Epost represents our aspiration and commitment to assist high-caliber local entrepreneurs in the Sabah region and we will continue to identify more quality startups to work with. If Epost is progressing well in their business growth, we do not exclude the possibility of providing follow-up funding up to RM4,000,000 (US$945,000),” said Haji Mohd Shukor Bin Abdul Mumin, Chairman at Warisan Quantum Management.
While there has been a surge in the e-commerce industry over the past few years in Southeast Asia, there has also been neck-to-neck competition in the sector. Among the leaders in the logistics and supply chain sector are Kargo, Moovaz, Waresix, and Ninja Van.