NextTech and Ngan Luong fund BOXME to expand its operations

Sunday, Aug 14, 2022 12:34

NextTech Chairman and BOXME Director General shake hands at the signing ceremony. — Photo courtesy of NextTech

NextTech Group and Ngan Luong Intermediate Payment Gateway JSC have invested over VND150 billion (US$6.4 million) in BOXME to expand its operations in Viet Nam.

NextTech is a multi-platform ecosystem operating in e-commerce, fintech, logistics and education with annual online tractions of $5 billion whereas Ngan Luong is a popular online payment gateway with 35 million transactions carried out daily.

BOXME is a pioneer in e-commerce logistics that owns three giant centres of 12,000sq.m each in the country. It offers fulfillment services to e-commerce platforms with a capacity to process 50,000 orders per day.

Given the pandemic has caused a boom in e-commerce, the investment is expected to help BOXME scale up to meet the mounting demand for e-logistics and become the leading e-logistics firm in Southeast Asia.

"During two years of the pandemic, we had to run at full capacity to be able to process the number of orders received. With the investment, we will expand our centres to 30,000sq.m each and process 150,000 orders per day," said Han Van Loi, BOXME Director General. — VNS

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