Wetruck Expansion Plans After Pocketing Initial Funding
Investments received from several angel investors
This year there are a number of targets that Wetruck wants to achieve as a logistics platform that provides a fleet of trucks of various types for MSMEs and B2B users. Among them is to expand in western Indonesia until the end of 2021. Continued to eastern Indonesia in early 2022.
After receiving funding pre seed This year, it is hoped that the expansion plan will run smoothly. It was not stated further how much investment Wetruck received, but the fresh funds were provided by several angel investors.
"Wetruck will expand to several areas in western Indonesia with the latest technology development. And we will raise funds again for the next stage," said Wetruck Co-Founder Hilman Kamil to DailySocial.
Having been around since 2017, Wetruck provides market logistics needs with affordable and transparent pricing options. Through dashboards integrated, clients can easily access various delivery services supported by flexible payments. To date, Wetruck has an ecosystem of 2500 courier partners and 1500 trucks in the Greater Jakarta area.
Prioritizing the concept blockchain delivery
Regarding the business model and monetization strategy applied, Wetruck claims to be the platform delivered The first community-based company in Indonesia, promoting collaboration with truck owners and property owners to support all industries in Indonesia with delivery services that take up part of the space inside the truck.
When asked what distinguishes Wetruck from other logistics platforms, Hilman emphasized that the service puts forward the concept of blockchain delivery to be accessible to the general public. Draft blockchain delivery What Wetruck implements is the concept of unifying the logistics ecosystem so that anyone can be deliveryman or logistics man.
Although at the beginning of 2020 there were problems due to the PSBB rules during the pandemic, towards the end of the first quarter of 2020, many logistics startups began to recover and even received a lot of funding. Wetruck noted that the pandemic was the right moment for them to offer comprehensive services to their target users.
"Pandemic affects performance E-commerce the Wetruck support increased drastically. To date we have served around tens of B2B clients, partnered with portfolios and have shipped around 2 million packages, with 15 thousand deliveries, and $15 million item values, said Hilman.
In the article DailySocialpreviously noted, in Indonesia spending on land logistics is estimated to reach $290 billion by 2020. Apart from the large market, the population size of commercial vehicles (9,6 million units in 2019) has created intense price competition.
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However, Indonesia's ratio of logistics costs to GDP still reaches 24%, lagging behind Thailand and Malaysia. This creates a potential of $240 billion in the logistics sector in Indonesia. High logistics costs not only weaken the competitiveness of the industry, but also increase cost of doing business for SMEs in Indonesia.
It is hoped that current logistics services can overcome these problems by providing services that support the growth of MSMEs and services E-commerce in Indonesia.