With the new investment, Paperfly plans to build a network equipped with all facilities such that all kinds of products regardless of quantity or size can be delivered anywhere in the country
The global coronavirus pandemic has been brutal for businesses for the most part. But for a few like Paperfly, a five-year-old logistic-tech start-up, the public health crisis provided them with the right setting to scale up their business and blossom.
The company saw the number of deliveries it made soar manifold as Bangladeshis warmed up to the idea of shopping online amid the pandemic, which lured in Uber to enter the parcel delivery arena.
So much that Paperfly has recently managed to attract an investment of about Tk 100 crore from Ecom Express, an Indian technology-enabled end-to-end e-commerce logistics solutions provider.
At present, there is no such a logistic company in Bangladesh that can provide a one-stop solution for home delivery across the country, Rahath Ahmed, Co-founder and Chief Marketing Officer, Paperfly told Dhaka Tribune.
But with the new investment, Paperfly plans to build a network equipped with all facilities such that all kinds of products regardless of quantity or size can be delivered anywhere in the country.
Pursuing the investment, Paperfly and Ecom Express will work closely to introduce intelligence-driven automation and data sciences to Bangladesh’s logistics industry, accelerating the implementation of advanced supply chain and logistics processes and adopting agile solutions in delivery, warehouse and fulfilment management.
Currently, Paperfly employs more than 1,000 people and provides service through its 100 delivery points across the country. It plans to increase delivery points to 350 and to generate employment for 2,500 people.
It offers doorstep delivery, warehousing, fulfilment, smart return management and cash collection facilities for its online merchants.
Bangladesh’s logistics industry must evolve in many folds to keep up with the modern purchase behaviour from an increasingly digitized society, said Shahriar Hasan, founder and chief executive officer of Paperfly.
“We want to lead that evolution in both e-commerce and traditional logistics by integrating technology to deliver a superior experience to both our clients and customers,” he added.
Paperfly has established itself as a prominent enabler to online businesses through its strong logistics experience and entrepreneurial leadership team, said TA Krishnan, CEO and co-founder of Ecom Express.
“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,” he added.
Bangladesh’s logistics market remains untapped as the demand for the service has only started to grow on the back of the robust growth of e-commerce and f-commerce.
According to the e-Commerce Association of Bangladesh (e-CAB), the domestic logistic market size is about $1 billion.
“There is a 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,” Ahmed said.
In spending the money of new investment, Paperfly also would focus on more technology adoption to make service faster and transparent.
“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,” said Shamsuddin Ahmed, co-founder and chief technology officer of Paperfly.