Singapore’s logistics provider Moovaz acquires van-hailing startup GetVan | SGInnovate
 

Singapore’s logistics provider Moovaz acquires van-hailing startup GetVan

Thursday, September 24, 2020


From left: Lee Minghui, Head of Operations @ Moovaz | Lee Junxian, Chief Executive @Moovaz | James Neo, Director @ GetVan | Jerry Chua, Chief Commercial @ Moovaz

 

Singapore-based logistics and international relocation service provider Moovaz has agreed to acquire van-hailing platform GetVan for an undisclosed amount, according to an announcement.

The acquisition allows Moovaz to bolster its end-to-end relocation ecosystem with GetVan’s technological offering and strong driver-partner network, the company said. GetVan founder and CEO James Neo will join Moovaz as Head of Supply Chain Operations.

Founded in 2016, GetVan is an on-demand van-for-hire service that offers intra-city logistics solutions for businesses and individuals. It is one of the pioneers of the multi-sided platform model in van-hailing with a focus on technology for social value for driver-partners, businesses, and end-users.

Moovaz, on the other hand, specialises in relocation, logistics, freight, and also warehousing solutions. It operates a relocation-tech platform for the mobile citizen, delivering transparency and access through its global network of over 2,000 certified partners.

With the acquisition, the two sides can bolster their synergies by combining their operational services across the supply chain, integrating their data capabilities cross functionally, and leveraging on each other’s distribution networks for their go-to-market efforts regionally.

“I am excited to scale GetVan’s robust technology and partner onboarding capabilities to further our ambition as a leader in global relocation.” said Moovaz co-founder and CEO Junxian Lee.

In June, Moovaz entered an agreement with media group Singapore Press Holdings (SPH) to acquire its expat publication, The Finder. The acquisition, which was completed in May, will add content and community-building to Moovaz’s service.

In April, Moovazs had announced the closing of its $7-million Series A round in April led by Quest Ventures. Last year, it secured an undisclosed amount of investment from Hustle Fund, a venture fund investing in early-stage startups in the US, Canada, and Southeast Asia. Singapore government-owned firm SGInnovate also joined the round.

Original article: Deal Street Asia

Topics: Investments, Startups

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