MOBER Technology PTE (Mober) announced on February 27 that it received funding from 2GO Group Inc. The privately held Mober didn’t disclose how much it received.
Mober Founder and CEO Dennis Ng was quoted in a statement as saying that, aside from the latest capital infusion, they will now also get to service businesses of SM Investment Corp. (SMIC), which bought a minority stake in 2Go last year.
On May 26, 2017, 2Go said in a disclosure to the Philippine Stock Exchange that SMIC completed the acquisition of a minority stake in the firm via a 34.5-percent stake in 2Go’s parent company.
Ng said the funding also allows Mober to provide “same-day delivery capabilities” for products sold by retail conduits using the SM brand and the affiliates of SM.
“We saw a problem that SMEs [small and medium enterprises] usually encounter they have to buy their own delivery van, [which means] increased capex [capital expenditure]. So, we realized, why not build a company that provides a solution to this problem” Ng said. “From individual to businesses, Mober helps you move forward in just a few taps using our Mober app. It’s a click, load, deliver scheme. We offer pick-up and delivery [services] that’s tailored to your specific needs.”
The company founded in December 2015 claims it “has changed the buying behavior of the Filipino market, as they now expect a same-day delivery when shopping for bulky items.”
Ng said Mober intends to use the investment proceeds to expand its business in key cities in the Philippines, to further enhance the Mober app for better scalability and to add more van partners to better serve affiliates requirements.
2GO Group President Frederic DyBuncio was quoted in the statement as saying that Mober fills in the gap for 2GO being a technology platform that allows on-demand delivery service for big items.
This is also a strategic partnership for 2GO as we are also embracing the multiple opportunities the digital world brings, 2GO Logistics Chief Operating Officer Ricardo Aguas was also quoted in the statement as saying.
On Monday 2GO Group Inc. and subsidiaries (2GO or the Group) reported P21.6 billion of revenue in 2017, 13-percent higher than 2016. “Net loss was p310 million versus net income of P344 million in 2016.”