Vietnam Investment Review: Quincus raises series B investment led by UP.Partners And GGV Capital

Quincus, an enterprise software-as-a-service (SaaS) leader in solving global supply chain challenges, has announced on September 30 that it has successfully closed an undisclosed Series B fundraising round.

The Series B investment catapults the company’s valuation well over $100 million. The investment round is led by UP.Partners, a US-based electrification and mobility fund, with participation from existing investor GGV Capital, a leading global venture capital firm that manages $9.2 billion in capital and is an investor in well-known tech and industry giants including Airbnb, Alibaba, Grab, and Slack.

Quincus is headquartered in Singapore with a global presence across Indonesia, Malaysia, Mexico, Taiwan, Vietnam, the United Arab Emirates (UAE), the US, and the UK.

Fresh funding allows Quincus to accelerate its growth trajectory by investing significantly in market expansion and technology development.

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

Since the beginning of 2021, Quincus has seen a 600 per cent growth in shipments across 48 countries. Quincus continues to see impressive traction in terms of people, customers, and gross transaction volumes. The company now transacts over 70 million shipments per month while analysing over 1.4 quadrillion data points.

Jonathan E. Savoir, CEO and co-founder of Quincus shared, there was an awesome opportunity in the supply chain and logistics sector as the industry goes through digitalisation influenced by global and local trade activities, as well as the pandemic.

“Companies are seeing the urgency to provide better and faster services to satisfy the demands from 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 environmental, social, and corporate governance is top-of-mind for many today. Quincus is incredibly well-positioned to provide the relevant solutions to achieve customers’ supply chain and logistics goals with our simple plug-and-play technology applications,” said Savoir.

Quincus will further enhance its multi-mile offerings by strengthening its real-time visibility and machine learning optimisation platforms. This will help create a more robust and connected supply chain ecosystem that 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, he claimed.

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