The funding will help the company expand beyond Southeast Asia. Here are the top-line bullets you need to know.
Flash Express, an e-commerce logistics company, has raised $150M in a combined Series E and extended Series D that drew participation from SCB10X, eWTP Capital, and Buer Capital, among others.
HOW’S THE COMPANY PERFORMING?
- Thailand-based Flash Express is a door-to-door pickup & delivery and logistics services provider that primarily caters to e-commerce companies. Along with its subsidiaries, the startup offers the delivery of large goods, goods storage, parcel delivery services, and financial services.
- The company claims to be capable of delivering up to 2M parcels a day across the 77 provinces of Thailand. It operates a fleet of 15,000 vehicles, 23 sorting centers, 1,300 distribution centers, and 10,000 service branches across Thailand.
- Flash Express, which employs 27,000 people including delivery agents and courier staff, is profitable.
Source: Flash Express
WHY DOES THE MARKET MATTER?
- The global logistics market is projected to grow at a CAGR of 6.5% and reach a value of $7.641T by 2027, according to Allied Market Research.
- The pandemic has accelerated the growth of online retail in 2020 with an increase in demand for medical supplies and other consumer packaged goods.
- The global supply chain and logistics technology segment is witnessing a growth in investment with more than 400 deals in 2020 alone.