eCourier, an e-commerce based logistics company, today announced that it has closed a new round of funding led by a HongKong-based private equity Group. The company was valued at BDT 300 crore. The company raised its seed funding earlier from Mind Initiatives in 2015. The company says it will be using the new funding to explore further growth and expansion opportunities.
“We will be scaling up our outside Dhaka distribution and warehousing through investment in infrastructure and technology, in addition to improving the reach, reliability, and efficiency of our operations. We want to ensure that we share these benefits with our customers and partners and deliver the best with big smiles,” said Biplob G. Rahul, CEO of eCourier.
eCourier started as a logistics service provider in 2015. It has expanded into related verticals since. It now provides a range of products and services for businesses going online including online channel integration services, inventory management, and analytics along with multi-city fulfillment, express transportation, and reverse logistics.
It currently has a presence in over 60 districts and in excess of 1,000 unions already. It has more than 5,000 direct partners across Bangladesh and is a team of 350+ employees. The company says it has been experiencing more than 100% growth in delivery transactions in recent years. With the new funding, the company now plans to expand its network and coverage across the country.