Logistics company Paperfly has confirmed another Tk102 crore investment from leading Indian tech-based e-commerce logistics solutions provider Ecom Express.
In a press release, Paperfly said the new investment will propel building a stronger nationwide network that is aimed to cater to the courier and parcel industry needs, as well as the needs of fast-growing e-commerce deliveries.
The company also plans to invest in its own 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.
About this round of investment, 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 has 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 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 utilizing 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 clearly recognized through this additional round of fund injection."
Paperfly employs around 2000 employees and provides nationwide delivery services through 200 points across the country. The company has it's headquarter and central warehouse at Dhaka.