eCourier, country’s leading online product delivery company has received a new round of funding from a Hong Kong based private equity group after being valued by the group at Tk 300 crore.
However, the company did not share the value of the investment, for which a deal was signed at a programme in Dhaka yesterday. The company raised its seed funding earlier from MindInitiatives in 2015.
The new funding will be used towards ambitious growth strides, said Biplob G Rahul, CEO of the Bangladeshi company.
The company will use the investment to scale up their distribution outside Dhaka and warehousing through investment in infrastructure and technology, in addition to improving the reach, reliability and efficiency of their operations.
eCourier, one of the top delivery companies in the country which started out as a logistics service provider in 2015, now provides a range of products and services for businesses going online.
The company extended its service portfolio, including online channel integration services, inventory management and analytics along with multi-city fulfilment, express transportation and reverse logistics.
With presence in over 60 districts and in excess of 1,000 unions already, the company now plans to expand its network to levels none has stretched before.
Serving more than 5,000 direct partners across Bangladesh with its ever-growing team of more than 350 employees, eCourier has been experiencing more than 100 percent growth in delivery transactions in recent years.