Email Marketing is not dead! Try Probaho, a homegrown ESP from Bangladesh ▶ Join Now

Hong Kong-based logistics startup Lalamove enters Bangladesh, online hiring activities show

Hong Kong-based logistics startup Lalamove has apparently been working to launch its operation in Bangladesh, online activities of the company show. The company has been hiring actively for several positions including a managing director in Bangladesh. 

Dhaka's logistics scene has been getting a lot of attention from multinational players of late. Lalamove is the second multinational logistics startup to enter Bangladesh in 2022. Early this year Indian logistics startup Delhivery launched in Bangladesh. Previously, another Indian logistics company Ecom Express invested $12 million in Bangladeshi logistics startup Paperly. 

Lalamove was founded in Hong Kong in 2013 by Shing Chow Shing-yuk. The company was initially named Easyvan and later rebranded to Lalamove. It uses an uber-like model for delivery and describes itself as “an on-demand delivery app that matches drivers to customers.” Also known as Huolala in China, the company essentially provides van-hailing and courier services to both individuals and businesses. 

The company says it operates in 30 cities across 9 markets and has over 8 million users and more than 700,000 delivery drivers. Lalamove launched in India in 2018 but it got banned in 2020 by the Indian government during the series of Chinese app bans in India. 

Lalamove has raised a total of $2.5B in funding over 9 rounds. In its latest round of funding on 20 January 2021, the company reportedly raised  $1.5 billion at a post-money valuation of $10 billion. Lalamove was one of the first startups in Hong Kong to hit the $1 billion unicorn valuation.

Logistics is one of the fastest-growing verticals in Bangladesh. The fast growth of ecommerce has created new opportunities in the sector. Several local logistics players have raised meaningful capital over the past two years.

Most recently, Paperfly, one of the leading players in the vertical, raised $12 million in Series B funding from Indian Ecom Express. Other notable local players in the vertical include ShopUp’s REDx, eCourier, Pathao Courier, etc. 

Competition has already been growing in the vertical with companies raising new investments. Lalamove entering the Bangladesh market is likely to intensify the competition. 

Mohammad Ruhul Kader is a Dhaka-based entrepreneur and writer. He founded Future Startup, a digital publication covering the startup and technology scene in Dhaka with an ambition to transform Bangladesh through entrepreneurship and innovation. He writes about internet business, strategy, technology, and society. He is the author of Rethinking Failure. His writings have been published in almost all major national dailies in Bangladesh including DT, FE, etc. Prior to FS, he worked for a local conglomerate where he helped start a social enterprise. Ruhul is a 2022 winner of Emergent Ventures, a fellowship and grant program from the Mercatus Center at George Mason University. He can be reached at [email protected]

In-depth business & tech coverage from Dhaka

Stories exclusively available at FS

About FS

Contact Us