Paperfly Receives BDT 102 Crores More Investment to Digitise the Bangladesh Courier Sector 

According to a press release, Paperfly, a nationwide doorstep delivery pioneer and leading tech-based logistics services company, plans to usher in the digital era of the local courier industry by confirming another Tk 102 crore investment from Ecom Express, a leading Indian tech-based e-commerce logistics solutions provider.

Paperfly hopes to revolutionize and reinvent express delivery services in Bangladesh with this approach. The company’s success thus far is a tribute to the team’s knowledge and passion for developing new-age logistics, which is led by creative and experienced founders.

Paperfly Receives BDT 102 Crores More Investment to Digitise the Bangladesh Courier Sector

Paperfly is the first native tech-enabled logistics firm in Bangladesh to give countrywide coverage, founded in 2016 by Shahriar Hasan, Razibul Islam, Rahath Ahmed, and Shamsuddin Ahmed.

Paperfly has transformed the e-commerce logistics sector over the last six years by offering countrywide doorstep delivery, nationwide doorstep pickup, the fastest mid-mile network, app integration, cashless pay at the doorstep, and much more.

The firm launched its first contract B2B, door-to-door rapid delivery services, targeting the local courier and package sector, in September of last year, and had a tremendous reaction.

This additional investment will help establish a stronger countrywide network to meet the demands of the courier and package business, as well as the fast-growing e-commerce delivery market. In addition, the firm intends to invest in its own IoT solutions, collaborating with local talent.

This will not only introduce clever technological solutions to ensure even faster delivery, but it will also provide local enterprises with the potential to advance due to increased reach and dependable services.

Paperfly aims to set itself apart by implementing innovative supply chain and logistics procedures as quickly as possible, as well as implementing agile solutions in warehouse, fulfillment, and network operations.

In 2021, the local e-commerce market was valued at more than $2 billion dollars, and it is expected to grow in the next years.

Ecom Express CEO and co-founder, TA Krishnan, stated about this round,

“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,” 

He also added,

“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.’

The local courier business is worth roughly Tk 1200 crore per year, but it is hindered by a lack of compliance and contemporary technology, which is limiting its development and importance.

Paperfly intends to untangle this web and play a key role in reducing logistics headaches to a bare minimum.

Ecom Express Limited, a strategic investor, is a prominent provider of end-to-end technology-enabled logistics solutions to the Indian e-commerce market. Gurugram, India is the company’s headquarters. With their combined 100+ years of expertise in the Indian logistics and distribution sector, TA Krishnan, Manju Dhawan, K Satyanarayana, and late Sanjeev Saxena launched Ecom Express in 2012.

The founder and CEO of Paperfly, 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 currently employs over 2000 people and offers countrywide delivery through 200 locations around the country. Dhaka is the company’s headquarters and principal warehouse.