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LOAD2GO

Malaysia
Market: Logistics and warehouses, Mobile applications
Stage of the project: Idea or something is already done

Date of last change: 11.12.2021
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Idea

We offer our customers seamless BIG TRUCK logistic service at our fingertips for customer convenience. This includes zero transporter overheads and paperless process via online platform.

Current Status

It has increased by 50% from 2018 to 2019 maintain flat on 2020 and 2021 because of covid. We are forecasting to achieve 25% increase from 2021which is 1.2mil by 2022.

Market

According to Insight Partners, Southeast Asia's logistics market accounted for USD 36.4 billion in 2017 and will grow at a CAGR of 5.5% to USD 55.7 billion in 2025. Based on tonnage for big trucks, the market is worth USD3.3 bil a year in Malaysia; while Thailand, Vietnam and Indonesia combined would be about 8 times as large. We are focusing on B2B market segment that creates a continue increasing in sustainable logistic industry.

Problem or Opportunity

Conventional methods for booking big truck logistics (20/40 footer trucks) are time consuming, require additional lead time and offer limited delivery tracking and document traceability facilities. Traditional logistics providers or companies that own their truck fleet face the hassle and cost of maintaining the trucks and managing the logistic team. The current last mile logistics players don’t cater to this segment which comprises 92% of freight by tonnage but is underserved.

Solution (product or service)

LOAD2GO solves these problems by providing instant quotations with guaranteed delivery, real-time location tracking, document traceability, electronic delivery order and secure payment process. Customers can select from a wide selection of truck capacities and types and have the flexibility to secure and manage their bookings on the go by using the LOAD2GO mobile app.

Competitors

Most tech-based players serve the last mile delivery or small/medium truck markets. The established contract-based multinational logistic providers and freight forwarders don’t offer a tech-based on demand service as this will cannibalise their existing business.

Advantages or differentiators

By adopting technology and applying it to this segment with zero logistic asset ownership, we offer big truck on-demand logistic services at competitive pricing.

Finance

Revenue stream is based on commission for every job. For example: Looking into a regional delivery that may cause approximately USD 210/ trip and we are paying USD 178.50 to driver and we are taking 15% sales commission.

Business model

Our digital B2B marketplace allows customers to connect to transporters directly via the LOAD2GO platform thus eliminating agents/ forwarders. Our revenue is based on commissions averaging USD210 per trip which is 3 times small/medium truck logistics (e.g. Lalamove) and 35 times last mile delivery services (e.g. Grab/GoJek).

Money will be spent on

Staffing 68%
Marketing and promotion 16%
Capital Expenditure 6%
IT 10%

Offer for investor

13% Equity

Team or Management

Incubation/Acceleration programs accomplishment

SCALE UP MALAYSIA & QUEST VENTURE

Invention/Patent

Trademark "LOAD2GO" branding
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video