CarPal has raised an additional S$3.83 million (US$2.7 million) to further develop the SaaS solution CarPal Fleet and help businesses build and control their own fleet of drivers. The round is led by new private equity participants, and the existing investor, RB Investments, has re-invested as well. This round follows the pre-series A of SG$1 million raised back in January 2016.
Launched in July 2014, CarPal is one of the pioneering on-demand logistics service based on sharing economy, headquartered in Singapore. Over the past 2.5 years, it has steadily grown into a popular and reliable last-mile delivery service for consumers and businesses alike, delivering anything from fresh food, flowers, clothing, household appliances to furniture items.
The company has recently announced the official launch of its new SaaS delivery management solution: CarPal Fleet.
“Over the past few years, we learned that many of our customers wish to build their own fleet of drivers. This is mainly due to specific requirements or SOP. Hence launching a product to give customers full control over the delivery operations made a lot of sense,” says Maarten Hemmes, founder and CEO of CarPal.
By allowing businesses to optimise the routing of delivery orders and match the best available driver, CarPal Fleet can bring delivery costs down and help businesses to compete with industry giants such as Amazon, Lazada and Zalora. The logistics startup wants to give businesses more control over their delivery fleet and help them find a healthy mix between in-house and third-party drivers, without actually having to purchase any vehicles or hire additional staff.
Today, the company has hundreds of customers all over South East Asia. including (full-service) logistics providers, parcel delivery services, food delivery services and others. Businesses use and pay for CarPal Fleet via volume-based pricing.
The company is competing with others in the space like Bringg and Onfleet. The main aspect that sets CarPal apart from the others is the fact that the business actually recruits drivers in every market for customers to add to their fleet, taking away the initial recruitment efforts.
The company now consists 15 people and is headquartered in Singapore. It plans to expand into new markets and new segments with this round of additional funding, which includes growing its R&D and sales team.
To date, CarPal has raised S$4.83 million.