Epost, a Malaysian e-commerce logistics startup, has secured US$1.4 million from Warisan Quantum Management, a private equity group located in Malaysia.
The freshly collected funds will be used to improve the product and extend the platform across Southeast Asia.
Epost is an e-commerce logistics business that offers cross-border shipping and e-commerce fulfillment services to brands and merchants. It was founded in 2019. It also offers cloud-based order, inventory, and warehouse management solutions to help businesses with logistics.
With 13 e-commerce fulfillment facilities strategically positioned around Southeast Asia, its services are now accessible in Malaysia, China, Singapore, Vietnam, the Philippines, and Brunei.
“In Southeast Asia, the e-commerce logistics industry has plenty of room for growth, especially in services that enable connectivity across national borders. We hope to transform the industry and create more value for all players throughout the e-commerce value chain with Epost’s solutions and technology,” said Tobin Ng, CEO of Epost.
“This round of funding marks our very first investment into a Sabah-based startup. The investment made in Epost represents our aspiration and commitment to assist high-caliber local entrepreneurs in the Sabah region and we will continue to identify more quality startups to work with. If Epost is progressing well in their business growth, we do not exclude the possibility of providing follow-up funding up to RM4,000,000 (US$945,000),” said Haji Mohd Shukor Bin Abdul Mumin, Chairman at Warisan Quantum Management.
While the e-commerce business in Southeast Asia has grown rapidly in recent years, there has also been fierce rivalry in the sector. Kargo, Moovaz, Waresix, and Ninja Van are among the industry leaders in logistics and supply chain management.