Collect IDR 2.4 Trillion In Funding, SiCepat Starts Expansion To

SiCepat is ready to expand (Sahabat SiCepat)

JAKARTA - The package delivery and logistics service, SiCepat, managed to get an injection of funds in the series B round of 170 million US dollars (around 2.4 trillion). Now the freight forwarder is preparing to expand its services to the Southeast Asian market.

Launching Tech Crunch, SiCepat's B series investors include Falcon House Partners, Kejora Capital, DEG (the German Development Finance Institution), Telkom Indonesia, Indies Capital, Temasek Holdings, Trihill Capital, and Daiwa Securities. The logistics freight forwarder announced its final funding of US $ 50 million in series A 2019.

SiCepat's founder and CEO, The Kim Hai, said that the funds raised will be used to strengthen the company's network and services in the country. As well as expanding the reach of the Southeast Asian market.

"It further strengthens SiCepat's position as a leading end-to-end logistics service provider in the Indonesian market and has the potential to expand its reach to other markets in Southeast Asia," said The Kim Hai.

SiCepat revealed that the company has already experienced profits and is able to fulfill as many as 1.4 million packages per day by 2020. Thanks to the rapid growth of e-commerce, package delivery is getting higher than before, especially during this pandemic.

SiCepat is one of a number of other startups in Indonesia that has successfully raised US $ 170 million. The company plans to make the supply chain and logistics infrastructure more efficient.