Logistics Company Ecom Express expands to Bangladesh
Dhaka, 15th Jan 2021: Logistics solutions provider Ecom Express is foraying into the Bangladesh market, marking its maiden venture outside India, a statement said.
Ecom Express invested USD 11 million (about Rs 80.6 crore) in Bangladesh's largest third-party e-commerce logistics firm, Paperfly.
"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.
"The invest...