Paperfly, Bangladesh’s largest home delivery service network, today 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.
Founded in 2016 by Shahriar Hasan, Razibul Islam, Rahath Ahmed and Shamsuddin Ahmed, Paperfly is the first homegrown technology-enabled logistics company in Bangladesh and has been able to scale up to the size that it is today in a very short span of time. 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.
Pursuing the investment, Paperfly and Ecom Express will work closely towards transformation of Bangladesh’s logistics industry through use of intelligence-driven automations and data sciences, accelerating the implementation of advanced supply chain and logistics processes and adopting agile solutions in delivery, warehouse and fulfillment management.
Speaking on the investment and partnership, Shahriar Hasan, Founder & CEO of Paperfly says, “The Bangladesh’s logistics industry must evolve in many folds to keep up with the modern purchase behavior from an increasingly digitized society. We want to lead that evolution in both e-commerce and traditional logistics by integrating technology to deliver superior experience to both our clients and customers. The partnership with Ecom Express will enhance our credibility and we look forward to consolidating Bangladesh’s logistics landscape further and for the better.”
Razibul Islam, Co-founder & Chief Operations Officer of Paperfly says, “We have built a home delivery network across Bangladesh, which works efficiently. It was a 5 year journey and we have had important learnings along the way. This partnership will help us greatly to build on those learnings and scale up our operation very fast in the right direction. As e-commerce will only grow and we plan to step into traditional courier space, we aim to create huge and quality employment opportunities all around the country.”
Rahath Ahmed, Co-founder and Chief Marketing Officer, Paperfly says, “There is lot to be done, not only in e-commerce logistics, but also in the traditional courier arena in terms of cost efficiency and customer service, backed up by tech play that can delight the users. Our aim is to establish Paperfly as the largest network of connected logistics, which is able to meet the need of any enterprise, customers or e-commerce. This deal with Ecom Express is a big step forward and a proof to the credibility that we have built over the years.”
Shamsuddin Ahmed, Co-founder and Chief Technology Officer, Paperfly says, “Technology is the cornerstone for all our activities, and we never stop inventing new ways to serve our clients better. There are never-seen-before features that only we have launched exclusively to bring more transparency for our users. I am very excited about this partnership as it will provide us the exposure towards faster tech adaptation, which Ecom Express has already carried out in their market.”
T.A. Krishnan, CEO and Co-Founder, Ecom Express 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.’’