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Founded in 2015, Ship60 is a last mile delivery provider offering 60 minutes instant delivery services, in a massively growing market like Southeast Asia and specifically Vietnam.
The main problems of Ship60 in 2016 were related to the lack of differentiation from other stronger competitors (especially in the B2C food delivery) and slow scaling in that competitive market (which is prone to economies of scale). It became also difficult to convince investors that they were a top 3 player and could get and defend an important market share in the market.
Fast Forward Advisors supported Ship60 while accelerated in VSV, focusing on testing growth on new customer segments (corporate docs and pharmaceuticals), corporate offering definition (especially the PaaS offering), and investment readiness (helping them build a very defensible investment case with all validated operational KPIs).
“ Working with FFA has been a great pleasure, during the acceleration program they helped us with a lot of know-how and methodologies. When working together on fundraising, they created several important connections with the investment community “
“ Working with FFA has been a great pleasure, during the acceleration program they helped us with a lot of know-how and methodologies. When working together on fundraising, they created several important connections with the investment community “
Founded in 2015, Ship60 is a last mile delivery provider providing 60 minutes instant delivery services, in a massively growing market like Southeast Asia and specifically Vietnam.
Customers of Ship60 are E-commerce businesses such as Lazada (Rocket Internet, Alibaba) as well as retail players such as Vascara (fashion retailer with 100+ stores) and Concung (baby product retailer with 500+ stores). Ship60 is also proving its platform capabilities as a service to logistic companies such as Vietnam Post (VNPost) to which Ship60 provides the technology platform to optimize last mile delivery.
The main problems of Ship60 in 2016 were the following:
We provided the following solutions:
At the end of the journey we had a great validated growth and investment case for their following seed funding round, with which they created a solid and defensible market share.
They raised a low 7-figure seed round from local private angel investors.