Beautiful Virgin Islands

Monday, Aug 04, 2025

Hong Kong Startup Pickupp Raises $15 Million From Billionaires And Conglomerates For Asia Expansion

Hong Kong Startup Pickupp Raises $15 Million From Billionaires And Conglomerates For Asia Expansion

New investors include Drive Catalyst, the corporate venture arm of Taiwan conglomerate Far Eastern Group, and Hong Kong-based Jardine Matheson Group.
Pickupp, a Hong Kong-based logistics startup, announced earlier this week that it has raised about $15 million in funding since November to fuel its Asia expansion and grow its e-commerce platform.

New investors include Taiwan e-commerce company PChome, Taipei-based Cornerstone Ventures and Drive Catalyst, the corporate venture arm of Taiwan conglomerate Far Eastern Group, which is chaired by billionaire Douglas Hsu. Existing investor Swire Properties, a Hong Kong-headquartered property developer, also participated in the funding.

Other investors include Hong Kong-based Zipx, which is headed by James Steinberg, an honoree on this year’s 30 Under 30 Asia list; Cathay Venture, the corporate venture arm of Taiwan-based Cathay Financial, which is led by the billionaire Tsai brothers; and Hong Kong-based conglomerate Jardine Matheson Group.

Pickupp currently operates in Hong Kong, Taiwan, Malaysia and Singapore. In Taiwan, the startup is partnering with PChome for last-mile delivery. Crystal Pang, cofounder and CEO of Pickupp, said in a phone interview that the five-year-old startup is also open to working with investors in Hong Kong who require logistics services.

“I think this would be a very good way to showcase that we are able to add value and provide flexible and highly transparent delivery solutions for whatever business sector they may be in,” says Pang.

The funding also allows Pickupp to capitalize on the opportunities amid the soaring growth in e-commerce in the pandemic era. Online retail sales in the Asia-Pacific region will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024, according to market research firm Forrester.

Pickupp also saw demand increase for cross-border deliveries, such as between Taiwan and Hong Kong. Before the pandemic, Hong Kong consumers would fly to Taiwan, which is just an hour away, to bring back Taiwanese goods.

“People are also more willing to try out new websites and new e-commerce players out there, so for cross-border e-commerce, making it economical and feasible to [small- and medium-sized enterprises] and individuals is key,” says Pang. “This demand is not going away any time soon.”

Last year, Pickupp launched Shop On Pickupp, an e-commerce mobile platform that allows small businesses to transition online. As the pandemic has accelerated the growth of e-commerce, Pickupp aims to operate in 10 markets in Asia in the next three to five years. “I don’t think right now we have a very specific next city on the roadmap, but we do have quite a number of partners we already work with,” says Pang. “Even though we don’t have an office there, we are already taking volumes from these places.”

Pickupp was cofounded in 2016 by Pang and Eric San, two Uber alums, and Paco Chan, an honoree on last year's 30 Under 30 Asia list, who previously worked at Procter & Gamble. The startup serves more than 20,000 merchants across Asia with 80,000 registered agents.

In 2019, Pickupp raised an undisclosed funding round led by the Alibaba Entrepreneurs Fund, with participation from Hong Kong-based venture capital firms Spark Ventures and Axis Capital Partners.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
×