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[Funding alert] Gurugram startup Ecom Express expands to Bangladesh; invests $11M in Paperfly Through this investment, Gurugram startup Ecom Express will foray into the Bangladesh market, marking its maiden venture outside India. 0 claps $11 million (about Rs 80.6 crore) in Bangladesh s largest third-party ecommerce logistics (3PL) firm Paperfly. Through this investment, Ecom Express is foraying into the Bangladesh market, marking its maiden venture outside India, the startup said in a statement. With more than 167 million inhabitants and over 90 million internet users, the ecommerce industry in Bangladesh is emerging and has become one of the fastest-growing markets in the region. The increasing per-capita disposable income has fueled higher consumption from expanding middle classes, it added. ....
Indian end-to-end e-commerce logistics solution provider Ecom Express has acquired a majority stake in Bangladeshi home delivery service provider Paperfly, worth around Tk 100 crore. Paperfly aims to utilise the fund to reduce delivery time by 24 hours. Now it takes a maximum of five days. "We want to ensure home delivery service in the country within 48 to 72 hours," Razibul ....
Logistics solutions provider Ecom Express on Tuesday said it has invested USD 11 million (about Rs 80.6 crore) in Bangladesh s largest third-party e-commerce logistics (3PL) firm, Paperfly. Through this investment, Ecom Express is foraying into the Bangladesh market, marking its maiden venture outside India, a statement said. With more than 167 million inhabitants and over 90 million internet users, the e-commerce industry in Bangladesh is emerging and has become one of the fastest growing markets in the region. The increasing per-capita disposable income has fueled higher consumption from expanding middle classes, it added. Founded in 2016 by Shahriar Hasan, Md Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed, Paperfly is the first homegrown technology-enabled logistics company in Bangladesh. ....