HONG KONG, Oct. 16, 2017 /PRNewswire/ -- The financing round was participated by Axis Capital Partners, a Hong Kong-based venture investment company which has been an active investor in the technology start-up space in Asia. Anoop Chaudhry, Partner at Axis Capital Partners commented, "PICK-UP is an attractive early stage investment for us. We think that their business model of focusing on business customers (B2C) and providing the most cost-efficient pricing for their customers sets them aside from competitors. We have looked at other similar businesses in the past, but PICK-UP is the most promising in terms of emulating the efficiency of a larger traditional courier company whilst providing same day delivery. We also like the sector as it plays to one of our key investment themes of rapid scalability – the addressable market size is huge and only getting bigger with the rapid rise of ecommerce and store-to-door deliveries."
The funding round was also participated by Metroworks Equity, Sage 42 Apps and Shanghai Bestway Enterprise Development Company. Charles Ng of Metroworks, a veteran in the tech sector in Asia, commented, "We are impressed by the small team's ability to grow their volume rapidly in Hong Kong in such a short period of time. Their rank and dispatch technology focus on achieving best cost-efficiency and earning capacity for their delivery agents, and as such able to provide competitive pricing for ecommerce businesses. We look forward to working with them to expand their business in Southeast Asia where we have the network to assist."
The Company was founded by Uber alumnus Crystal Pang and Eric San, and Paco Chan, former Procter and Gamble sales and marketing executive. Crystal Pang, Co-founder & CEO said, "In less than 12 months we have managed to grow daily volume to a peak of over 1,000 deliveries per day, utilizing idle manpower including students, retirees and freelancers. With the new capital, we look to expand into Southeast Asia while enhancing product offerings."
PICK-UP is a logistics technology optimization platform that enables businesses and individuals to source independent delivery agents to execute two-hours, four-hours, or same day deliveries in the most efficient and cost-effective manner. PICK-UP aims to provide affordable and reliable same day delivery via innovative operating processes and technology including order clustering and bundling, ranked dispatch, real-time GPS tracking, auto delivery notifications, delivery agent ratings and feedback. PICK-UP allows businesses to de-bottleneck any delivery constraints and allows them to flexibly scale their sales volume at an affordable price.
Paco Chan, Co-Founder
Tel: +852 6408 9594
Email: [email protected]