Thailand-based full-service e-commerce logistics provider Flash Express announced that it has completed a Series D funding round of USD 200 million, led by PTT Oil and Retail Business Public Company Limited with participation from Durbell and Krungsri Finnovate. Flash Express has raised around USD 400 million in total from leading venture capital funds and corporations in the Asia region to date.
Founded in 2018, Flash Express was launched in the Thailand market as the first company that offers free door-to-door pickup and delivery service 365 days a year. Flash Express uses fully in-house developed technology and big data to standardize and digitize the delivery process. Within only two years, Flash Express has become the second-largest private express delivery provider, with over 5,000 service branches covering all 77 provinces of Thailand and delivering more than 1 million parcels per day.
According to Flash Express CEO, the company is prepared to create and develop new technologies to achieve greater delivery and logistics efficiency. Moreover, the company intends to assist SMEs in lowering their investment costs.
(Sources: TechCrunch; e27)