“If there is a time to start a business, it is now, while we’re young.”

A lunch between co-workers in their mid-20s in 2014 turned into a startup that has raised RM46 million, is now close to profitability, and wants to generate RM80-90 million in revenue in 2024 powered by its growth in Indonesia.

In 2014, 5 months after an initial discussion over lunch in 2014, Goh Chee Hau and Nadhir Ashafiq started TheLorry. The goal was to connect drivers and their vehicles with business and consumer transport and logistics jobs, with the vision that this would all be powered by proprietary tracking, route optimization and payments technology.

With just a handful of drivers in the early days, today TheLorry is present in 4 countries in the region, namely Malaysia, Singapore, Thailand, and Indonesia, and partners more than 7,000 drivers who provide services like professional house moving, furniture dismantling and disposing, and B2B logistics.

The startup is no stranger to funding rounds. Back in 2016, it raised US$1.5 million in its Series A round, close to RM24 million in its Series B funding round in 2019, and most recently, RM4.1 million through ECF on pitchIN last year.

On this episode of Open For Business, you will learn about TheLorry’s origins and ambitions, their evolution over the last decade, and what the path ahead looks like for this Malaysian-born startup.

Produced by: Roshan Kanesan

Presented by: Roshan Kanesan

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Categories:  managing,  markets,  technology,  entrepreneurs

Tags:  home movers,  business transport,  business,  delivery platform,