Easyship raises pre-Series A round from 500 Startups, to expand to Singapore

Photo from Easyship Facebook page.

Hong Kong-based logistics startup Easyship has raised an undisclosed amount of pre-series A funding from 500 Durians. This is a fund managed by Silicon Valley-based venture capital (VC) major 500 Startups. Financial terms of the investment are undisclosed.

The development was reported by Tech in Asia. Easyship is an online platform that provides cross-boarder logistics solutions for e-commerce companies, claiming to provide access to more than 80 shipping companies and enabling visibility on delivery time, cost break-down, reliability score, and tracking.

To date, it has raised aggregate funding estimated at $2.5 million and counts IMJ Investment Partners and other investors amongst its financial backers. The latest funding round will see it expand into the region.

The Hong Kong-based logistics venture will be expanding into Southeast Asia via Singapore, following the validation of its business model and building of traction in the Hong Kong market. The expansion to Singapore provides strategic access to Southeast Asia and leverages off the city-state’s logistics infrastructure and networks, coming at a time when Amazon is establishing a presence there.

When asked about the  challenges the company anticipates scaling in the region, Jakub Zakrzewski, the Head of Growth & Business Operations at Easyship, told DEALSTREETASIA: “We see entering southeast asia more like an opportunity rather than a challenge – we want to bring effortless shipping experience to eCommerce sellers from visibility on cost, discounted shipping rates to tracking information.”

 

The venture reportedly originates from problems with international shipping encountered by co-founders Tommaso Tamburnotti and Augustin Ceyrac while attempting to build the cross-border business of Rocket Internet’s Lazada.

This was at a time when Lazada was attempting to grow the number of vendors on its platform in China and Hong Kong selling into Malaysia, Singapore, Thailand, and the Philippines. During this growth initiative, Lazada experienced rapid sales growth but was inhibited by “a very unstructured and fragmented logistics industry.”

Easyship streamlines this process, providing an end-to-end process for packaging, labelling and tracking goods with couriers. It charges no fees for this services, with sellers paying couriers to ship their items out.

Revenue is generated from taking a commission from couriers, due to possessing volume and being able to negotiate better discounts. Easyship claims a client base in excess of 1000 enterprise in Hong Kong and saving up to $20,000 per month on shipping fees via their platform.

While concerns exist whether Southeast Asia can live up to its e-commerce potential, given its size, demographics and burgeoning economies, it is not a market that any e-commerce player can ignore.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.