Russia’s sovereign wealth fund RDIF announces an investment in Dostavista, an international crowdsourced delivery service with Russian roots. Neither the amount nor the process identity of the co-investors (“leading sovereign wealth funds from the Middle-East”) have been disclosed, but the company told East-West Digital News that “more details”about the deal will be unveiled in a few weeks.
Founded in 2012, Dostavista is among the international leaders in its field. It currently operates in 10 countries — Brazil, India, Indonesia, Malaysia, Mexico, the Philippines, Russia, South Korea, Turkey and Vietnam — under various brands.
The company claims to be profitable with a turnover of around $100 million, reports Rusven. It works with more than 1 million couriers, processing 3 million orders per month and serving more than 2 million business customers a year, according to the RDIF.
The Moscow-headquartered company already raised equity funding several times in the past: $800,000 in 2016, $2.25 million in 2017, $2 million in 2018, and as much as $15 million in 2019, as reported by East-West Digital News.
Dostavista’s investors in these previous rounds included FJ Labs, the investment firm of Fabrice Grinda and Jose Marin, Vostok New Ventures, a Swedish investment firm which is actively involved in the Russian VC market, as well as Flashpoint and AddVenture, two venture firms with Russian connections.
