Paperfly Edging Towards Shutdown

Industry: E-Commerce, Logistics, Logistics & Shipping, Start-Up
Company: Paperfly
Company Intelligence Tag: Business Insights

One of Bangladesh’s top logistics firms, Paperfly, has suspended order acceptance, signaling challenges in the e-commerce sector. Paperfly faces a severe cash crunch due to delayed fund arrivals and unresolved fixed deposits with CVC Finance Limited. Despite engaging with Bangladesh Bank, financial constraints persist.

Paperfly expected funding in January but has scaled down operations, handling only pending orders. This situation threatens over 700 jobs. Before the pandemic, Paperfly made over 9,000 daily deliveries, dropping to 10% during the April 2020 lockdown. By early 2021, it rose to 15,000 daily deliveries. Despite significant investments, a downturn in e-commerce orders contributed to its difficulties.

Despite Paperfly’s initial success, the downturn in e-commerce orders following the pandemic contributed to its predicament. This situation serves as a cautionary tale for startups, emphasizing the importance of sustainable and profitable business models over relying solely on large investments.

Source for more details:

Related News

Govt Plans Foreign Partnership to Boost CTG Port Capacity and Efficiency

May 7, 2025

The government of Bangladesh is planning to appoint globally experienced foreign firms to operate Chattogram Port and other key sea and land ports to address capacity limitations and reduce container congestion, as stated by Chief Adviser's Press Secretary Shafiqul Alam.

Chattogram Airport to Relaunch Cargo Hub

April 27, 2025

Shah Amanat International Airport in Chattogram is set to revive its 270-tonne cargo hub as part of a broader plan to strengthen Bangladesh’s air cargo infrastructure and prepare for new export routes, including direct cargo flights to China.

Biman To Operate 226 Hajj Flights This Year

April 27, 2025

Biman Bangladesh Airlines will operate 226 dedicated flights for Hajj this year, consisting of 118 pre-Hajj and 108 post-Hajj flights. Pre-Hajj flights will run from April 29 to May 31, with 96 flights from Dhaka to Jeddah and Medina, and 22 flights from Chattogram and Sylhet.

CPA Signs Tk 61.96B Deal For Matarbari Deep Sea Port

April 24, 2025

The Chittagong Port Authority (CPA) signed a Tk 61.96 billion contract with a Japanese joint venture (Penta-Ocean Construction and TOA Corporation) to build Bangladesh’s first deep-sea port at Matarbari, as part of the revised Tk 243.81 billion Matarbari Port Development Project.

Govt Approves Bay Terminal Marine Infrastructure Project

April 23, 2025

The government has approved a major support project for the Bay Terminal at Chattogram port, focusing on marine infrastructure development with a budget of Tk 13,525.57 crore. The project, considered crucial for Bangladesh’s growing economy due to the lack of a true deep-sea port, will include building a breakwater and improving port connectivity.

CPA Proposes Tk13525cr Bay Terminal Project for FY2031

April 21, 2025

The Chittagong Port Authority (CPA) has revised the cost of the Bay Terminal Marine Infrastructure Development Project to Tk13,525.27 crore—down from an initial estimate of Tk14,600 crore—following evaluation committee recommendations.

Related News

Govt Plans Foreign Partnership to Boost CTG Port Capacity and Efficiency

May 7, 2025

The government of Bangladesh is planning to appoint globally experienced foreign firms to operate Chattogram Port and other key sea and land ports to address capacity limitations and reduce container congestion, as stated by Chief Adviser's Press Secretary Shafiqul Alam.

Chattogram Airport to Relaunch Cargo Hub

April 27, 2025

Shah Amanat International Airport in Chattogram is set to revive its 270-tonne cargo hub as part of a broader plan to strengthen Bangladesh’s air cargo infrastructure and prepare for new export routes, including direct cargo flights to China.

Biman To Operate 226 Hajj Flights This Year

April 27, 2025

Biman Bangladesh Airlines will operate 226 dedicated flights for Hajj this year, consisting of 118 pre-Hajj and 108 post-Hajj flights. Pre-Hajj flights will run from April 29 to May 31, with 96 flights from Dhaka to Jeddah and Medina, and 22 flights from Chattogram and Sylhet.

CPA Signs Tk 61.96B Deal For Matarbari Deep Sea Port

April 24, 2025

The Chittagong Port Authority (CPA) signed a Tk 61.96 billion contract with a Japanese joint venture (Penta-Ocean Construction and TOA Corporation) to build Bangladesh’s first deep-sea port at Matarbari, as part of the revised Tk 243.81 billion Matarbari Port Development Project.

Govt Approves Bay Terminal Marine Infrastructure Project

April 23, 2025

The government has approved a major support project for the Bay Terminal at Chattogram port, focusing on marine infrastructure development with a budget of Tk 13,525.57 crore. The project, considered crucial for Bangladesh’s growing economy due to the lack of a true deep-sea port, will include building a breakwater and improving port connectivity.

CPA Proposes Tk13525cr Bay Terminal Project for FY2031

April 21, 2025

The Chittagong Port Authority (CPA) has revised the cost of the Bay Terminal Marine Infrastructure Development Project to Tk13,525.27 crore—down from an initial estimate of Tk14,600 crore—following evaluation committee recommendations.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here