Pakde Logistics Service Pockets Initial Funding of 6 Billion Rupiah from TNKapital

Startups in the logistics industry, Package Delivery (Pakde), announced the acquisition of seed funding from TNKapital worth $400 thousand (approximately 6 billion Rupiah) this October. Previously, in July 2018, KNPapital had become angel investors for the same company.

KNPCapital is a venture capital which was established at the end of 2017. The focus is on providing financial investment, mentorship, networking, publications, and resource allocation. TNKapital focuses on startups in the logistics sector, applications and systems for HR management, administrative management, convection product manufacturing services, and supply chain leaders.

Since its establishment in 2016, Uncle claims to have experienced significant growth. The peak of its growth was marked by an increase in warehouse transactions in May 2018 by 215% driven by an increase in online shopping transactions during the month of Ramadan. The same achievement was made again in September 2018 through aggressive client acquisitions and additional warehouses in Bandung.

Pakde provides operational services, including services inbound as stock report and stock management. Pakde also provides services warehousing in its own warehouse and outbound services in the form of packaging and shipping goods to partners from clients.

"Since January 2018, Pakde transactions have recorded up to 194%, and this is a positive response for all of our partners," said Pakde CEO Nicko Batubara.

Currently, Pakde has around 15 partners who use Pakde's services. In addition to SMEs, the online warehouse solutions that it presents are also starting to be noticed by corporations, specifically in the health and electronics industry.

The company is said to be expanding to six other cities in Indonesia and expanding to two cities in Southeast Asia. The expansion plan is the main focus of funding in the next stage.

"Pakde targets growth to reach 5 times higher in December 2018 from July 2018," said Nicko.