Easyship, the Hong Kong logistics startup has raised an undisclosed amount of pre-series A funding from 500 Durians, a fund managed by Silicon Valley’s venture capital major 500 Startups.
Easyship is an online platform that provides crossborder logistics services for eCommerce companies, claiming to have access to more than 80 shipping companies and offering visibility on delivery time, cost breakdown, reliability and tracking.
The startup has raised an aggregate estimated funding of US$2.5 million. The latest round will help it expand into Southeast Asia via Singapore, following the validation of its business model and building of traction in the Hong Kong market.
Just as US eCommerce giant Amazon is establishing a presence, the startup’s expansion to Singapore provides strategic access to Southeast Asia and leverages off the city-state’s logistics infrastructure and networks.
The idea cme into mind amid the problems with international shipping encountered by co-founders Tommaso Tamburnotti and Augustin Ceyrac when they were trying to build the crossborder business of Rocket Internet’s Lazada. During that time, Lazada was trying to attract multiple vendors to its platform in China and Hong Kong selling into Malaysia, Singapore, Thailand, and Philippines.
However, Lazada’s rapid sales growth was inhibited by a ‘very unstructured and fragmented’ logistics industry. Easyship streamlines this process, providing an end-to-end process for packaging, labelling and tracking goods with couriers. It charges no fees for these services, with sellers paying the couriers. Revenue is generated from courier commissions.