Singapore logistics startup Qourier raises $630k seed round

Photo from Qourier Facebook page.

Singapore-based Qourier – a logistics startup which provides last-mile, same-day delivery – has closed a $630,000 seed round which saw participation from Japanese IT company Startia and private investors Alex Tan (of German logistics company DB Schenker) and Eric Dadoun (of Singapore-based investment firm Impiro).

Qourier is founded by Wong Yongjie, Elston Yee, and Satheesh Thekku Veethil. The startup allows people to request a delivery person (i.e. courier) and entrust them with their parcel via an app.

In addition to the seed investment, the startup has also secured $70,000 from angel investor Evan Lim. This brings their total funding raised to $700,000.

Couriers recruited through the service could be professionals to students to offline Uber drivers. Payment is made through the app with the packages delivered on the same day and ranging from envelopes and documents up to 20 kg boxes.

With a focus on goods that can be delivered on foot or with a car, Qourier’s focus on this model enables it to remain flexible and operate in a niche that differentiates itself from competitors in the last-mile delivery space like GoGoVan and Lalamove.

The service was launched in March 2015 and saw its co-founders fulfilling deliveries itself in the early days of the company as it attempted to build its customers base.

According to an exchange with Tech in Asia, the firm currently claims more than 500 clients and more than 5000 delivery people on its platform.

When asked how defensible they believed their space to be, Wong explained to DEALSTREETASIA: “We believe we have carved a unique position in the market, more specifically for same day deliveries and we feel that we are defensible across our growing number of freelance Qouriers and logistics partners.

He adds, “The way our technology is optimised for same day deliveries to engender overall cost and process efficiency, different service levels and brokered partnerships (e.g. Qourier air), and the collective strength of the founders’ experience, as well as our investors, helps shape how the company is set up to be nimble and creative in the market.”

The startup will use the proceeds from its latest funding round to expand its technical team, in addition to exploring new geographies such as Taipei, as well as regionally.

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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.