Thailand-based Flash Group, which provides e-commerce logistics services, including delivery service Flash Express, has become the first Thai unicorn startup after recently raising US$150 million (4.6 billion baht) in Series D+ and E funding just three years into operations, according to the company's owner.
Thai delivery startup Flash says raises $150 mln, becomes unicorn Reuters 1 hr ago
BANGKOK, June 1 (Reuters) - Thai logistics startup Flash Group on Tuesday reported its latest round of fundraising had generated $150 million, which it said pushed its overall value beyond the $1 billion mark, reflecting a surge in e-commerce demand.
The new investment comes amid strong growth of online retail in Thailand at a time of prolonged coronavirus outbreaks and social restrictions.
Flash Group chief executive, Komsan Lee, said among the company s next moves would be to expand elsewhere in Southeast Asia.
Flash, founded in 2017, has not publicly disclosed a breakdown of investments in the company. Asked by Reuters about the valuation, Komsan said: Exceeded $1 billion, that s a unicorn .
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