Investors fund expansion plan Chinese start-up Lalamove
According to recent reports, Chinese start-up Lalamove (which is also known by the name EasyVan) has secured USD 10 million from a group of investors to fund its expansion plans. This Uber-like service for goods transport currently operates in six cities in China and Southeast Asia (Hong Kong, Singapore, Bangkok, Taipei, Guangzhou and Shenzhen).
Lalamove connects customers with motorcycle and van drivers in the relevant cities, while helping drivers gain extra business. Lalamove’s iOS and Android apps match customers who want to transport items across a city with the nearest and most suitable professional driver in its network. There are clear parallels with the Uber taxi service: anyone with a valid driver’s licence and a vehicle can sign up for free, drivers can be tracked in real time and rated after completion of the delivery.
The extra capital will be used to strengthen Lalamove’s position in its existing markets as well as to move deeper into China and other parts of Southeast Asia. Lalamove faces local competition from several rivals, not least from Uber itself which is currently testing UberCARGO in Hong Kong. If successful these developments could transform the logistics market in the region, and perhaps beyond.