Paperfly, Bangladesh's largest home delivery service network on Tuesday announced a majority investment of close to 100 crores by Ecom Express, India's leading technology enabled end-to-end e-commerce logistics solutions provider, backed by Warburg Pincus and CDC Group, to fast track Paperfly's vision of capturing a lion's share in Bangladesh's growing e-commerce industry.
Paperfly is the first homegrown technology-enabled logistics company founded in 2016 by Shahriar Hasan, Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed, Paperfly. The fast growth of Paperfly is a testament to the solid experience and extensive industry expertise of its management team. 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 1 million people daily through its 2,900 delivery points across India.
Paperfly Founder and CEO of Shahriar Hasan says, "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 says, "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.We look forward to unlocking Paperfly's potential to provide superior customer experiences across its supply value chain by integrating e-commerce, logistics and technology ecosystem."
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