Ecom Express announces strategic investment in Bangladesh’s Paperfly
The technology-enabled end-to-end logistics solutions provider to the e-commerce industry, Ecom Express is entering Bangladesh with a strategic investment worth of USD 11 million in its largest third-party e-commerce logistics (3PL) firm Paperfly. This investment is marking Ecom Express’ maiden venture outside India.
Ecom Express is now looking at expanding into adjacent countries after having covered the length and breadth of the country reaching over 1.2 billion people daily. And this is its step ahead, to begin with.
The e-commerce industry in Bangladesh has become one of the fastest-growing markets in the region with more than 167 million inhabitants and over 90 million internet users. The increasing per-capita disposable income, from expanding middle classes has fueled higher consumption. In addition to that, consumers tend to shop online tremendously, expecting a shorter delivery time as mobile and internet penetration has increased.
T.A. Krishnan, CEO and Co-Founder, Ecom Express says, “We see a lot of growth opportunities in adjacent markets and the current investment is one of the many things in the pipeline. We looked at multiple aspects before identifying Bangladesh for our first international venture. The market draws parallel with India in terms of growth and demography and we want to leverage our experience and domain expertise to enable high scalability growth and build a strategic backbone of e-commerce logistics in Bangladesh. Paperfly is quite similar to Ecom Express in its operations and we admire what the company has accomplished in the Bangladesh market. We look forward to enabling Paperfly to unlock new avenues for an enhanced third-party logistics and home delivery in the country.”
Paperfly is the first homegrown technology-enabled logistics company in Bangladesh and it was founded back in 2016 by Shahriar Hasan, Md. Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed. It has grown to be a company that it is today in a very short span of time. Including services like last-mile delivery, cash on delivery solutions and returns management, the company enables e-commerce platforms with full-fledged delivery and logistics offering and has the widest delivery network in the country which covers all 64 districts. The solid experience and extensive industry expertise of its management team of the company lead to the fast growth of Paperfly.
To meet the fast-growing demand for quality e-commerce logistics services in Bangladesh, Paperfly will use the investments towards the transformation of logistics through intelligence-driven automation and data sciences. Not only this, it will further accelerate the company’s agile solutions in delivery and warehouse management, implementation of advanced supply chain and logistics processes and other operational facets in the logistics and supply chain.