Ninja Van

What Ninja Van does

Ninja Van is a Singapore-headquartered last-mile logistics and e-commerce courier founded in 2014, operating across five Southeast Asian markets (Singapore, Malaysia, Thailand, Indonesia, Philippines) after exiting Vietnam in 2026. The company serves e-commerce marketplace sellers, direct-to-consumer brands, and enterprise customers with parcel delivery, cross-border e-commerce logistics, and micro-supply chain solutions, processing millions of parcels monthly. Its revenue model combines per-parcel transaction fees for last-mile delivery with managed-service B2B fulfillment contracts, channeled through enterprise field sales, referral partnerships (e.g., Security Bank in the Philippines), and integration partnerships (e.g., UPS in Malaysia, URC in the Philippines). The company exited Vietnam amid competition from J&T Express and SPX Express and reduced Singapore headcount by approximately 5% in 2024.

Ninja Van's underlying technology stack is cloud-native and centered on warehouse management and fulfillment orchestration. It has deployed AC2 Wave WMS to drive a 30% improvement in picking speed and warehouse throughput, enabling daily operations to conclude by 6 PM rather than 8 PM. In the Philippines it adopted Anchanto's WMS to unify B2C and B2B fulfillment operations. On the corporate finance side, it implemented Workday Adaptive Planning for financial planning processes across the region. The company operates a mix of owned infrastructure and channel integrations, including its UPS partnership in Malaysia for global delivery.

The company achieved unicorn status in September 2021 following a $578 million Series E led by Alibaba Group and GeoPost/DPDgroup, bringing cumulative funding to approximately $947.5 million and a valuation exceeding $1 billion. In 2025 it was reported to be negotiating an $80 million round at roughly the same valuation, effectively a flat-to-down mark, while securing a $50 million HSBC revolving credit facility in October 2024 to support working capital. Leadership is anchored by co-founders Chang Wen Lai (CEO) and Shaun Chong (CTO), with Boxian Tan as COO and Adzim Halim as Group Chief International Officer.

Name

Ninja Van

Legal name

Ninja Van

Website

https://ninjavan.co

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Ninja Van is a Singapore-headquartered last-mile logistics provider founded in 2014, serving e-commerce marketplace sellers, direct-to-consumer brands, and enterprise customers across five Southeast Asian markets with parcel delivery, cross-border logistics, and B2B fulfillment services.

Ownership category

akta.pro rank

Product category

Logistics Services

NAICS

Specialized Freight Trucking (4842), Motor Vehicle Manufacturing (3361)

SIC

Trucking (No Local) (4213), Industrial Trucks, Tractors, Trailors & Stackers (3537)

akta.pro primary industry

Dry Van (General Freight) TL Carriers (TLADADAA)

akta.pro secondary industry

Bus & Coach Depots / Storage Yards (TLALAKAI)

Keywords

• Last-mile delivery
• E-commerce logistics
• Parcel delivery
• Warehouse fulfillment
• Cross-border logistics

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Last-Mile Express Delivery Services: Core revenue stream from express and last-mile parcel delivery services for e-commerce businesses across six Southeast Asian markets. Revenue is generated on a per-parcel transaction basis, with volume driven by marketplace and direct-to-consumer shippers.
2. B2B Logistics and Fulfillment: B2B fulfillment operations and logistics services for enterprise and mid-market customers, including warehousing, order processing, and supply chain management solutions, processing millions of parcels monthly across Southeast Asian markets.
3. Cross-Border Logistics: Regional e-commerce logistics services across Southeast Asia supporting cross-border deliveries, with micro-supply chain solutions targeting regional trade flows.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels3 records

Core offering

Ninja Van is a Singapore-headquartered logistics and courier service company that provides last-mile parcel delivery, cross-border e-commerce logistics, and B2B/B2C fulfillment services across Southeast Asian markets. The company offers technology-enabled micro-supply chain solutions, warehouse management, and express delivery services tailored for e-commerce marketplace sellers, direct-to-consumer brands, and enterprise customers, processing millions of parcels monthly.

Product overview

Ninja Van is a Southeast Asian courier and logistics company offering parcel delivery and logistics services across six markets. The company provides fulfillment operations supported by warehouse management technologies including AC2 Wave WMS and Anchanto's WMS platform, enabling scalable, efficient picking, packing, and fulfillment operations across Southeast Asian markets. The company processes millions of parcels monthly and achieved unicorn status in 2021.

Differentiator

Problem solved

Functional benefit

Products and services

• Last-Mile Express Delivery Services Core express and last-mile parcel delivery services for e-commerce businesses across six Southeast Asian markets. Revenue is generated on a per-parcel transaction basis, with volume driven by marketplace and direct-to-consumer shippers.
• B2B Logistics and Fulfillment Services B2B fulfillment operations and logistics services for enterprise and mid-market customers, including warehousing, order processing, and supply chain management solutions, processing millions of parcels monthly across Southeast Asian markets.
• Cross-Border Logistics Services Regional e-commerce logistics services across Southeast Asia supporting cross-border deliveries, with micro-supply chain solutions targeting regional trade flows.

Quantifiable outcome

• 30% improvement in picking speed and 30% improvement in overall warehouse throughput following AC2 Wave WMS deployment
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core, supporting and strategic.

• AC2coreTechnology or Integration · 4 January 2026AC2 deployed its Wave WMS cloud-native warehouse management system across Ninja Van's operations, delivering a 30% improvement in picking speed and 30% increase in overall warehouse throughput, enabling operations to conclude by 6 PM instead of 8 PM. Both companies described this as a long-term partnership enabling scalable, efficient fulfillment operations.
• AnchantocoreTechnology or Integration · 18 December 2025Ninja Van formalized adoption of Anchanto's Warehouse Management System in Manila to power B2C and B2B fulfillment operations in the Philippines. The technology was selected for its integration ecosystem, operational flexibility, and ability to unify complex fulfillment operations across enterprise systems and logistics partner services. The partnership aims to accelerate digitalization and reduce manual workload in order processing.
• Security BanksupportingGTM or Marketing Partner · 20 May 2025Ninja Van Philippines and Security Bank entered a referral partnership aimed at empowering growing businesses, with the bank referring its business customers to Ninja Van's logistics and fulfillment services.
• URC (Universal Robina Corporation)supportingChannel Partner/ Reseller/ Distributor · 7 January 2025Ninja Van entered a B2B logistics partnership with URC (Universal Robina Corporation), one of the Philippines' largest consumer goods companies, to support their logistics and distribution needs.
• WorkdaysupportingTechnology or Integration · 6 December 2024Ninja Van implemented Workday Adaptive Planning to streamline financial planning processes, enabling more efficient financial operations management across the company's Southeast Asian operations.
• UPSstrategicChannel Partner/ Reseller/ Distributor · 26 August 2024UPS's global delivery services became available via Ninja Van in Malaysia, enabling UPS customers to leverage Ninja Van's last-mile delivery network for domestic shipments within Malaysia.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• FedEx: Global courier and logistics incumbent with cross-border parcel capabilities in SEA. Overlaps with Ninja Van on international e-commerce logistics but competes from a much larger scale and broader portfolio.
• DHL eCommerce: Global logistics provider with dedicated e-commerce last-mile operations in SEA. Competes on cross-border e-commerce flows but as part of a much broader global portfolio rather than a regional pure-play.
• Pos Malaysia: Malaysian national postal incumbent with parcel, courier, and logistics services. Overlaps with Ninja Van on Malaysia domestic parcels but operates as a broader incumbent across mail, logistics, and financial services.

Direct peers

• Flash Express: Thailand-based parcel delivery courier with expanding regional presence. Comparable e-commerce last-mile model and target customer base in Thailand and adjacent SEA markets.
• J&T Express: Major Chinese-origin last-mile parcel delivery competitor with dominant share across Southeast Asia. Most directly comparable to Ninja Van on geography, e-commerce customer base, and asset-light courier model.
• Skynet Worldwide Express: SEA-based courier and logistics provider offering domestic and international parcel services. Comparable on multi-market SEA presence and e-commerce logistics positioning.
• Lalamove: On-demand intra-city delivery platform operating across SEA. Comparable regional footprint and SMB/courier customer base, though focused more on same-day vehicle-on-demand than inter-city parcel.
• SPX Express (Shopee Express): Logistics arm of Sea Group's Shopee marketplace, operating across SEA. Competes with Ninja Van on the same e-commerce parcel flows, with the structural advantage of Shopee-controlled volume allocation.
• Kerry Express (Thailand): Thai-headquartered parcel delivery company with cross-border SEA ambitions. Comparable to Ninja Van on e-commerce last-mile focus and regional expansion strategy.

Regional players

• LBC Express: Philippines-focused courier and logistics provider. Comparable on parcel delivery model but geographically concentrated, where Ninja Van operates Philippines as part of a regional network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ninjavan_sg
• Facebookfacebook.com/ninjavansingapore
• LinkedInlinkedin.com/company/ninja-van

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ninja Van