Multiples Alternate Asset Management, a Mumbai-based private equity (PE) firm has acquired a minority stake in INSTANT-XP, a tech-driven B2B express logistics company for $35 million.
Founded by Rajbir Singh and Jasveer Singh, INSTANT-XP specialises in both Full Container Load (FCL) and Less than Container Load (LCL) services. With an express-focused DNA, a technology-first approach, over two decades of experience, and strong partnerships with more than 500 unique customers, INSTANT-XP holds a distinctive position in the market. The company also offers proprietary functional technology tailored for customers, consignors, truckers, drivers, and other stakeholders across the logistics ecosystem, the release added.
“The logistics sector is transforming from simply moving goods to moving them faster and smarter. Customers are re-wiring their supply chain requirements to faster logistical solutions that allow them to reduce inventory and have reliable visibility on shipment. Rajbir, Jasveer & Aman’s expertise in express logistics and their DNA of customer delight and technology has allowed INSTANT-XP to win marquee clients. INSTANT-XP is a proxy play on India’s consumption and industrial activity. This partnership between INSTANT-XP and Multiples will further accelerate the Company’s growth while maintaining a strong focus on processes and governance to grow responsibly,” said, Sridhar Sankararaman, MD, Multiples Alternate Asset Management.
“We are thrilled to partner with Multiples who understands the logistics sector and brings first-hand experience in working with high-growth companies. With this investment, the company will further enhance its technological capabilities, multiply the revenue growth, and expand its network and service offerings to meet the evolving needs of our valued customers. We have experience of running asset light & heavy operations simultaneously and have a 360-degree understanding of the transport sector,” said, Jasveer Singh, MD & CEO, INSTANT-XP.
“We are happy to partner with Multiples and welcome them to the family. We share the same value system, which is based on our people and customer-first approach, hard work, coupled with high integrity and innovation. We are excited to create value for all stakeholders in this journey, including our team. With XP having become a pan-India express logistics network in a short period of time, this partnership with Multiples will accelerate our journey to become a powerhouse of express logistics in India,” said, Rajbir Singh Chaudhary, Executive Chairman & Aman Bhalla, COO, INSTANT XP.
