SiCepat Logistics Platform Completes 2,4 Trillion Rupiah Series B Funding

Logistics player last mile, SiCepat completed the Series B fundraising with a total value of $170 million or 2,44 trillion Rupiah. This funding is claimed to be the largest amount for the Series B stage in Southeast Asia. The investors participating in this funding are Falcon House Partners, Kejora Capital, DEG (German Development Finance Institution), Asia-based insurance underwriters, MDI Ventures, Indies Capital, Pavilion Capital (a subsidiary of Temasek Holdings), Tri Hill, and Daiwa Securities. .

DailySocial noted, throughout 2020, SiCepat Ekspres has recorded transactions of Rp. 3,5 trillion, an increase of 194% compared to 2019 with a total delivery of 180 million packages throughout Indonesia.

Pandemic drives business growth

The increased business growth during the pandemic is the main reason for investor confidence for SiCepat. Sicepat is considered as one of the few players providing logistics services for the new age economy that caters to e-commerce transactions and social commerce.

This fresh fund will be used by the company to strengthen their position as a logistics service provider end-to-end leading market in Indonesia and has the potential to explore expansion into other markets in Southeast Asia.

"We are even better equipped to support and empower millions of SMEs and local businesses not only to survive, but to thrive during these difficult times," said SiCepat Founder and CEO Kim Hai.

The company also has plans to invest in infrastructure. Currently SiCepat has provided Last-mile, Warehousing & Fulfillment, Commerce-Enabling Services, Online Distribution and Middle-Mile Logistics services.

"Indonesia's e-commerce market reached $32 billion in 2020 with a projected 5-year CAGR of 21% to a $82 billion industry by 2025. We believe that SiCepat is ideally positioned to serve customers from e-commerce giants," said Founding Partner Kejora Capital Sebastian Togelang.

In a previous interview with DailySocial, SiCepat will also enter into new business in the segment food delivery.