Filipino start-up and mobile app Mober Technology Inc. has disclosed plans to penetrate the delivery market of Singapore and other markets in the Association of Southeast Asian Nations.
Mober founder and chief executive Dennis Ng says the company is raising at least $1 million from pre-series A funding for an equity swap of 10 percent to enable to company to innovate, intensify marketing support and move on to the latest technology on bulk deliveries via web-based or mobile-based tracking.
“It is a mature market. I expect we will not have any difficulties in transaction and deliveries. Our success there will depend on our van partners who, I supposed, are very reliable partners given that Singapore is a very picky,” he says.
Established in 2015, the two-year-old company has a standing offer from a Singaporean company to buy out Mober for $5 million.
“I refused because we have so much ideas we are excited to execute and we know there is huge demand for the service we offer. I am interested to let go of the company entirely,” he says, adding that he is willing to dispose of 20 percent equity with van partners in Singapore if they are performing well enough.
He says the delivery opportunities in the Philippines is growing rapidly with the current nationwide inventory of 15,000 vans and about 10 million transactions.
The start-up company is doing local roadshows for funding in Cebu and Davao where the company is also trying to gain foothold. Mober will be available in Cebu by April and in Davao within the year.
Mober expects to hit $12 million in cumulative revenue by 2019, at 3 million deliveries and a minimum $4 commission rate per $18 transaction.
It grew by 65 percent month-on-month in 2016. From an average of 238 transactions in the first quarter of 2016, it grew to 6,842 transactions in the fourth quarter of 2016.
From 100 van partners, the company plans to have 3,000 van partners by 2019.
Among the company’s captured markets are SM appliance Center, Our Home, Mandaue Foam, Dimensione, Adidas, Red Ribbon, Blims Furniture, Bags in the City, HMR Philippines, Inc., WorldBex, Rockwell Land, Better Dog and other local companies with mobility requirement.
It also has initial talks with Philippine Airlines for “straight-from-the airport” delivery to clients within a 15-kilometer radius.
Mober is growing to be the preferred business-to-business of Philippine retailers and establishments because of accessibility and real time delivery.
