7 October 2021

e27: Quincus nets Series B financing to solve supply chain problems of e-commerce, airline brands

Quincus plans to grow its team to 400+ people to support its operations in its newly launched offices in Canada and the Middle East by the end-2021

Singapore-based Quincus, which provides an enterprise SaaS platform for the supply chain industry, has closed an undisclosed Series B fundraise at over US$100 million valuation.

Led by US-based electrification and mobility fund UP.Partners, the round saw existing investor GGV Capital’s participation.

Quincus will invest the new capital for market expansion and technology development. It will enhance its multi-mile offerings by strengthening its real-time visibility and machine learning optimisation platforms. This will allow carriers, airlines, and supply chain operators to optimise and transport their shipments across multi-modal networks throughout the first, mid, and last mile.

The new round follows nine months after Quincus closed its Series A round in January 2021, led by GGV Capital, Masik Enterprises and Aletra Capital Partners.

Quincus was founded in 2014 by Jonathan E. Savoir and Katherina-Olivia Lacey. It has worked closely with several household e-commerce, logistics and airline brands to solve their supply chain problems.

Since the beginning of 2021, Quincus claims to have seen a 600 per cent growth in shipments across 48 countries. The company transacts over 70 million shipments per month while analysing over 1.4 quadrillion data points.

Co-founder and CEO Jonathan E. Savoir said, “Companies are seeing the urgency to provide better and faster services to satisfy both consumers and businesses today while ensuring their operations are kept cost-efficient. Moreover, there is also a need for a greener supply chain as many today face environmental, social, and corporate governance. Quincus is well-positioned to provide the relevant solutions to achieve customers’ supply chain and logistics goals with our simple plug-and-play technology applications.”

Headquartered in Singapore, Qunicus has a presence in Indonesia, Malaysia, Mexico, Taiwan, Vietnam, UAE, the US, and the UK. It plans to grow its team to over 400 people to support its operations in its newly launched offices in Canada and the Middle East by the end-2021.

The company also looks to expand into new markets across the Americas, South Korea, and Japan by 2022.

Katherina-Olivia Lacey, CPO and co-founder at Quincus, added: “We believe that Quincus’ approach to supply chain technology innovation could reshape the movement of goods and commerce around the world and eventually, grow economies. With Quincus’ data lake, where data is consolidated, analysed, and fed into a single dashboard, customers will have the opportunity to make better decisions in a complex situation, such as applying mitigation measures to minimise environmental impact. We are honoured to have the support of investors who believe in what we can offer. We hope to tap on their expertise to create technology inclusivity within regions that might not have access to them.”

Ally Warson, Principal at UP.Partners, added, “UP.Partners believes that international supply chains are ripe for disruption and that Quincus holds the key to unlock enormous efficiencies for the logistics industry. The economic effects of covid have forced global logistics players to rethink how they operate their business fundamentally. The digitisation imperative has accelerated faster than ever. Quincus’s solution solves strategic pain points across the entire logistics chain.”

Article Link