SiCapat Parent Returns to Invest in M ​​Cash . Subsidiary

Onstar Express Pte. Ltd., otherwise known as the logistics holding company SiCepat Ekspres, announced its commitment to invest in Logitek Digital Nusantara (LDN) which is a subsidiary of Telefast part of the M Cash group. So far, LDN has helped a lot in developing SiCepat service sub-units, such as a WhatsApp-based customer application called SiCepat Klik and the SiCepat Point delivery point service.

The investment will be used to develop product innovations to enable Indonesian logistics providers to collaborate with the network offline broad; and help improve logistics solutions developed by LDN. Besides SiCepat, LDN is also partnering with other logistics players like Paxel to strengthen the ecosystem third party logistics (3PL) his.

"We see the tremendous development capacity of the fast growing Courier, Express & Parcel (CEP) market in Indonesia, projected to grow exponentially to $5 billion by 2024. Building on SiCepat's logistics expertise and knowledge of the Indonesian market and supported by MCAS Group's technology infrastructure, we strive to build an inclusive and accessible 3PL ecosystem that can even facilitate the logistics activities of other players in Indonesia," said Onstar & SiCepat CMO Wiwin D. Herawati.

Previously, SiCepat had also invested in other M Cash units. Early last year they announced the acquisition of a 51% stake DigiResto and has now been integrated into the SiCepat service. One of its missions is to accelerate business growth by exploring new business potential in the segment food delivery.

"We hope that DigiResto can provide new opportunities for service innovation that can bring us closer to consumers, SMEs, and merchant, especially those engaged in the F&B sector,” said Wiwin in a statement interview with DailySocial.

GMV service food delivery continues to increase, including driven by new habits arising from the pandemic. According to reports Momentum Works, throughout 2020 industry food delivery in Indonesia managed to record GMV worth $3,7 billion or equivalent to Rp52 trillion. This achievement is dominated by two decacorn Grab and Gojek with respective portions of 53% and 47% of the total market share.

Earlier this month, SiCepat also just announced series B funding with a total value of $170 million or 2,44 trillion Rupiah. This round was attended by a number of investors including Falcon House Partners, Kejora Capital, DEG, MDI Ventures, Indies Capital, Pavilion Capital, 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.