Businesses worldwide have been forced to adapt to the new normal due to the coronavirus pandemic. Retail was facing a big problem earlier this year, except for e-commerce, which was given the perfect opportunity to shine. With the sudden demand for online sales and logistics, e-commerce fulfillment company Shippit saw its business grow as transactions started increasing by more than double year-to-date.

The logistics startup has just finished its $22.3 million (A$30 million) Series B equity round led by Jason Lenga of Tiger Global, an American technology investment firm.

Shippit has been operating since 2014, and through its platform, it offers numerous services that automate logistics fulfillment processes to ease the different pain points for business owners, customers, and carriers.

Shippit announced that it currently handles roughly 5 million deliveries a month from numerous retailers that include Target, Uniqlo, Sephora, Templer & Webster, Kathmandu, Cotton On, and Big W. The company had already started exploring business in Southeast Asia after launching in Singapore earlier this May and Malaysia last August.

With its Series B fundraise, Shippit has come up with a total of $30.6 million (A$ 41 million) in capitalization. The company says that its Series B will help in continuing expansion to the rest of Southeast Asia.

Shippit plans to double manpower and hire 100 new people to join the team, including 50 software developers, to improve its platform in Australia. It is planning to launch in the Philippines and Indonesia and aim to see steady growth for their first three years of operation in unchartered waters.

William On, Shippit Co-Founder and co-Chief Executive Officer, has high hopes that SEA has a lot of potential. “Southeast Asia is predicted to be the world’s largest e-commerce market in the next five years, and the addressable market for us in Southeast Asia alone is already five times the size of Australia and twice the size of the U.S.,” he says.

This pandemic has tried, tested, and, in some cases, broken retail worldwide, and it has never been more evident that companies would have to adapt to the world of e-commerce if they want to survive. Companies like Shippit are making it easier for both small and big businesses to adapt.

On adds: “Scalable logistics is one of the fundamental enablers for ecommerce in the APAC region, and this capital raise will enable us to advance our core business of providing the technology retailers need to grow.”

Featured Image: Rob Hango-Zada and Will On, Shippit Co-Founders