Home ›› 06 Apr 2022 ›› Corporate
Nationwide doorstep delivery pioneer and leading tech-based logistics services company Paperfly has secured Tk 102 crore investment from India’s Ecom Express.
With this new investment Paperfly will start the digital era of the local courier (express) industry, the company said in a statement on Tuesday.
Founded in 2016 by Shahriar Hasan, Razibul Islam, Rahath Ahmed, and Shamsuddin Ahmed, Paperfly is the first homegrown tech-enabled logistics company in Bangladesh to offer nationwide coverage, Paperfly said in a statement.
In the last 6 years, Paperfly has revolutionised the e-commerce logistics industry by introducing nationwide doorstep delivery, nationwide doorstep pickup, the speediest mid-mile network, app integration, cashless pay at the doorstep, and much more.
In September last year, the company launched its first contract B2B, door-to-door express delivery services, targeting the local courier & parcel industry and experienced a phenomenal response. With this move, Paperfly seeks to revolutionise and redefine express (courier) delivery services in Bangladesh. The journey of the company so far is a testament to the expertise and passion of the team to build new-age logistics, led by visionary and experienced founders.
This new investment will propel building a stronger nationwide network that is aimed to cater to the courier (express) & parcel industry needs, as well as the needs of fast-growing e-commerce deliveries. The company also plans to invest in its IoT solutions, working with local talents. This will not only bring in intelligent technology solutions to ensure even faster deliveries but will also offer local industries an opportunity to move up with improved reach and reliable services. The company seeks to differentiate by accelerating the implementation of advanced supply chain and logistics processes and adopting agile solutions in warehouse, fulfillment, and network operations.
The local e-commerce market was worth more than $2 billion in 2021 and is projected to be doubled in the next few years. The local courier market is currently at around Tk 1,200 crore in a year and lacks compliance and modern technologies, which is hindering its growth and relevance. Paperfly plans to unlock this knot and play a pivotal role in bringing down logistics hassles to a zero level.
The strategic investor Ecom Express Limited is a leading end-to-end technology-enabled logistics solutions provider to the Indian e-commerce industry. Headquartered in Gurugram, India, Ecom Express was founded in 2012 by TA Krishnan, Manju Dhawan, K Satyanarayana, and late Sanjeev Saxena with their 100+ years of cumulative experience in the Indian logistics and distribution industry.
Ecom Express CEO & Co-founder, TA Krishnan said, “Paperfly is playing a vital role in enabling e-commerce growth and expanding service reach across Bangladesh. Ecom Express’ additional investment in Paperfly reflects its continued support for the company to further its efforts in building tech-backed solutions for the growing digital commerce in the country. Paperfly’s recently announced B2B solutions which offer door-to-door express delivery services have shown tremendous momentum since its launch, and we see this sector growing exponentially over the next few years. This investment reinforces our confidence in the Bangladesh market and will enable the company to be future-ready in managing the scale and we look forward to being part of their growth journey.”
Paperfly’s Founder & CEO Shahriar Hasan said, “We have been pioneering in providing e-commerce logistics solutions since our inception and spearheaded in bringing in rural Bangladesh under doorstep coverage. Last year we started utilising our world-class network to offer B2B services for the domestic courier-parcel industry and got exciting responses. This round of investment confirms our commitment to completely transform this traditional industry in the coming years by integrating technology and compliance at the root level. We are glad that the potential of Bangladesh logistics arena is being recognised through this additional round of fund injection.”
Currently, Paperfly employs around 2000 employees and provides nationwide delivery services through 200 points across the country. The company has its headquarters and central warehouse in Dhaka added the statement.
