Vietnam-based e-commerce logistics startup Boxme has raised more than 150 billion dong (US $6.4 million) in a fundraising round from local technology company NextTech Group and the online payment system Ngan Luong.
Boxme offers e-commerce businesses an omnichannel logistics management solution. Boxme was established in 2016 by Han Van Loi, a former employee of NextTech. It offers a variety of services, such as payments, shipping, and warehousing. In addition to its native nation, the firm now conducts business in Malaysia, Indonesia, Thailand, and the Philippines.
Presently, Boxme has two fulfilment centres in Vietnam that together have a total floor area of more than 12,000 square meters and have a daily capacity of more than 50,000 orders. The business intends to increase these facilities’ space to 30,000 square meters, which would allow them to accommodate 150,000 orders, with the help of the new funding.
Without going into detail, the firm claimed that its entire order total for 2022’s first half matched that of last year. It also said how the demand for e-commerce services during the epidemic increased their income.
The most recent investor in Boxme is NextTech Group, which was founded in 2001. It operates primarily in the following four sectors: e-commerce, finance, digital logistics, and edtech. After Nguyen Hoa Binh, the company’s founder and chair entered Shark Tank Vietnam as a shark, the company lately attracted media attention.
Ngan Luong is a NextTech subsidiary. Since its launch in 2009, it has grown to become one of Vietnam’s most used payment gateways, handling more than $50 million in transactions each month from more than 100,000 websites and applications.