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SiCepat Express Receives Investment from Praus Company

SiCepat Express Receives US$ 50 Million Investment from Praus Company

Logistic startup SiCepat Ekspress has successfully secured series B funding of US$ 50 million or around IDR 710 billion from Praus Company. From the information obtained, Praus Company poured out such a large amount of funds to buy 129,529 shares of SiCepat or about 8.3 percent of ownership.

SiCepat Express is a logistics startup founded in 2014 by Rudy Swigo and The Kim Hai. This startup first received funding from Kejora Ventures of US$ 3.5 million in June 2017 in a seed round.

Then in April 2019, they received around US$ 50 million from Barito Technology and Kejora Ventures in the Series A funding round. Then in March 2020 at the Corporate Round from Tokopedia with an undisclosed value.

SiCepat Express Receives Investment from Praus Company

Throughout 2020, the company experienced an increase in transactions of up to IDR 3.5 trillion. Even at Harbolnas 12.12 this year, it claims to have experienced an increase in package shipments, reaching more than 5 million packages.

“SiCepat’s performance in 2020 increased significantly, it was recorded that in the first half of 2020 it had reached 1 million packages per day and an increase in transactions of more than IDR 3.5 trillion or 191 percent from the previous year,” said SiCepat Ekspres Co-Founder and CEO The Kim Hai.

SiCepat has worked together as a delivery partner in various marketplaces such as Tokopedia, Shopee, Bukalapak, Lazada, and Zilingo Shopping.

Received Several Awards in 2020

At the end of 2020, SiCepat Ekspress received a number of awards. First, the “Impactful Service of the Year” award from Marketers Editors’ Choice Award 2020. The award was obtained by SiCepat for releasing HALU products and services (Prices Starting at Five Thousand).

This product is welcomed and enthusiastic for SiCepat service users, especially Small and Medium Enterprises, by presenting affordable services and delivery services similar to Regular services.

Second, an award from the Indonesian Record Museum (MURI) for the SiCepat Youtube Prize Rain giveaway program. There are two awards from MURI, namely:

SiCepat Express Receives Investment from Praus Company

1. Longest Series Giveaway Event via Youtube Channel

2. First Giveaway Event with QR Code Registration System

Sicepat Expands Drop Points Network in Logitek Digital Nusantara

PT Sicepat Ekspres Indonesia again expanded the Sicepat Point network with PT Logitek Digital Nusantara (LDN), a subsidiary of PT Telefast Indonesia Tbk and a member of the PT M Cash Integration Tbk Group.

In this collaboration, it will open drop points at business partner outlets in the LDN retail network. LDN will also be a technology provider for Sicepat Point services and provide various solutions that aim to provide convenience and comfort to users in using Sicepat Point services.

“LDN and TFAS contributed to the expansion of Sicepat Point in the LDN business partner network as a B2B Retail Sicepat Ekspres drop point partner,” said Jody Hedrian, Chief Executive Officer of PT Telefast Indonesia Tbk.

SiCepat Express Receives Investment from Praus Company

He explained, at an early stage, the expansion of Sicepat Point started with a network of business partners in Bekasi city, and will gradually run in other cities. Just so you know, this cooperation is a continuation of the expansion of the Sicepat distribution network that has been running since early 2020, which until now has partnered with Fastpay, Sentral Cargo, and Alfamart.

As part of this collaboration, LDN will also provide systems for ordering, tracking and payment for package delivery solutions supported by the MCAS Group technology infrastructure. Users can purchase logistics vouchers via WhatsApp for Business MCAS Group.

“Through the WABA chatbot, delivery orders can be made and monitored real-time. We are very pleased to be able to help and improve the user experience with the help of technology,” continued Jody. According to him, this collaboration marks an important step for Telefast which is expanding its business to the logistics industry through its subsidiary, LDN, as an addition to the supply chain management business.