Russian courier service MrSpeedy bags $15m Series B led by Vostok New Ventures

Russia-headquartered Dostavista, the parent of crowdsourcing delivery service company MrSpeedy, has raised $15 million in a Series B funding round led by venture capital firm Vostok New Ventures, the company said in a Linkedin post.

Budapest-based equity and debt fund FlashPoint and Moscow-based VC fund AddVenture also participated in the round.

The proceeds from the funding will go towards beefing up marketing, sales and global business teams.

Founded in 2012, Dostavista has operations in 11 countries including Indonesia, the Philippines, Malaysia, Vietnam, Thailand, South Korea, Mexico, Turkey, and India.

Dostavista claims that it supports a delivery service in less than 90 minutes or on time, using any transportation, or any route.

It uses an Uber-like method where couriers just need to log into the account and wait for verification before they are able to begin delivering the package.

In 2017, Dostavista forayed into Southeast Asia by making Indonesia as its first base using the brand name MrSpeedy. In the second half last year, the startup forayed into Vietnam, the Philippines, Malaysia, and Thailand.

The company said it also recorded 1 million registered couriers across the globe with clients ranging from Fortune companies to retail customers.

Meanwhile, Vostok New Ventures is a Swedish VC focused on startups in emerging markets, especially in the online marketplace segment. It recently invested in Myanmar-based startup Shwe Property’s $3-million Series B round.

The VC firm also invested in London-based Babylon Health, Dhaka-based Shohoz, and Egypt-based Swvl, and Vezeeta.com.

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