Local home delivery service network Paperfly announced on January 12 a majority investment of close to Tk 100 crore by Ecom Express, Indian technology enabled end-to-end e-commerce logistics solutions provider, backed by Warburg Pincus and CDC Group, to fast-track Paperfly’s vision of expanding its share in Bangladesh’s growing e-commerce industry, said a press release.
Founded in 2016 by Shahriar Hasan, Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed, Paperfly is the first homegrown technology-enabled logistics company in Bangladesh and has been able to scale up to the size that it is today in a very short span of time.
This investment marks Ecom Express’ first presence outside India after redefining e-commerce logistics in its home country driven by innovative technology-led solutions and an unparalleled network that reaches almost one million people daily through its 2,900 delivery points across India.
Pursuing the investment, Paperfly and Ecom Express will work closely towards transformation of Bangladesh’s logistics industry through use of intelligence-driven automations and data sciences, accelerating the implementation of advanced supply chain and logistics processes and adopting agile solutions in delivery, warehouse and fulfilment management.
Speaking on the investment and partnership, Paperfly’s founder and CEO Shahriar Hasan said, ‘The Bangladesh’s logistics industry must evolve in many folds to keep up with the modern purchase behaviour from an increasingly digitized society. We want to lead that evolution in both e-commerce and traditional logistics by integrating technology to deliver superior experience to both our clients and customers. The partnership with Ecom Express will enhance our credibility and we look forward to consolidating Bangladesh’s logistics landscape further and for the better.’
Ecom Express CEO and co-founder TA Krishnan said, ‘Paperfly has established itself as a prominent enabler to online businesses through its strong logistics experience and entrepreneurial leadership team. Our investment is an opportunity to partner with the company that is delivering rapid growth in the home delivery space while building a robust and sustainable operation for the long term.’
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