Over the last 6 months, Moovaz has raised a US$7 million Series A and acquired two companies
Singapore-based logistics startup Moovaz has entered into an agreement to acquire van-hailing startup GetVan for an undisclosed amount, Moovaz announced in a press release today.
The acquisition will bolster the startup’s end-to-end relocation platform with GetVan’s technological offering and strong driver-partner network, Moovaz noted in the statement.
Moovaz aims to link the operational services of both companies across the supply chain, and integrate their cross functional data capabilities, as well as leverage each other’s distribution networks for their go-to-market efforts regionally.
It added that GetVan Founder and CEO James Neo will join Moovaz as Head of Supply Chain Operations following the acquisition.
Founded in 2016 by former GO-JEK Executive James Neo, GetVan is an on-demand van hiring service that offers intra-city logistics solutions for businesses and individuals.
GetVan is a pioneer of the multi-sided platform model in van-hailing business and focuses on technology with social value for driver-partners, businesses and end-users, the statement noted.
GetVan Founder Neo said in the statement, “Moovaz and GetVan share a common belief that to win with customers, we have to first win with our partners.”
“I am impressed by the strong commitment to protecting partner earnings and experience within the Moovaz platform. I believe in the vision of the Moovaz team, and I look forward to my new calling of delivering innovative experiences for the modern, mobile citizen,” he added.
Commenting on the new acquisition, Isaac Chua, Head of Corporate Investments, YCH Group, said in the the statement, “James’ ability to bring GetVan to its position today is a testament to his discipline and resilience, which is vital in the logistics arena.”
“Never afraid to get his hands dirty, he commands respect among his driver-partners for having worked alongside them as a partner himself in the early days of GetVan. His deep empathy and strong quantitative skills will be invaluable in his new role of integrating GetVan’s supply chain to drive value for the wider Moovaz ecosystem,” he added.
Neo has been known as a strong advocate for the rights of independent private-hire drivers and operators, particularly in response to coronavirus-induced business disruptions, the statement noted.
The latest acquisition announcement comes after Moovaz acquired Singapore Press Holdings’ expat-focused publication The Finder in June this year, to create content for the purpose of building a community on its digital relocation service platform.
Founded in 2018, Moovaz is an all-in-one relocation-tech platform that aims to inspire the freedom to relocate and revolutionize the logistics and international relocation industry by offering an unprecedented level of transparency and open access to global mobility services worldwide.
According to the statement, the 2-year-old startup has a global network of more than 2,000 certified partners.
Moovaz had raised $7 million in its Series A funding round led by Quest Ventures, YCH Group, and government-owned deep-tech investor SGInnovate, in April this year.
Moovaz Co-founder and CEO Junxian Lee said, “I am excited to scale GetVan’s robust technology and partner onboarding capabilities to further our ambition as a leader in global relocation.”
Header image courtesy of Moovaz