Abraaj Leads Funding Round for Asian E-Commerce Play Ninja Vanby
Monk's Hill, B Capital, YJ Capital join $30 million round
Ninja Van plans to expand in Thailand, Vietnam, Philipppines
Dubai-based private equity firm Abraaj Group has led a $30 million fundraising round into the owners of Ninja Van, which delivers parcels in Southeast Asian countries including Singapore and Indonesia.
The investment in Ninja Logistics Pte underscores Abraaj’s push into e-commerce, the company said in an e-mailed statement Tuesday. Its other investments include Urbano, which provides courier services in Peru, Ecuador and El Salvador, and Aramex in the Middle East.
“The Southeast Asia e-commerce sector is estimated to double in the next four years, with total e-commerce parcel delivery estimated to grow in line with the sector,” Omar Lodhi, partner and head of Asia at Abraaj, said in the statement.
The funding will help Ninja Van, which also operates in Malaysia, to expand deliveries to Thailand, Vietnam and the Philippines by the end of the year. The Singapore-based company serves 3,000 customers and delivers about 15,000 parcels a day. Other investors in the round included Monk’s Hill Ventures, B Capital Group and YJ Capital.