eCourier gets foreign funding

Online product delivery company eCourier has received a new round of funding from a Hong Kong based private equity group after being valued by the group at Tk 300 crore.

The new funding will be used towards ambitious growth strides, said Biplob G Rahul, CEO of the Bangladeshi company.

However, the company did not share the value of the investment, for which a deal was signed at a programme in Dhaka yesterday.

The company had raised its seed funding earlier from Mind Initiatives in 2015, eCourier said in a statement yesterday.

“We will be scaling up our distribution outside Dhaka and warehousing through investment in infrastructure and technology, in addition to improving the reach, reliability and efficiency of our operations,” said Rahul.

“We want to ensure that we share these benefits with our customers and partners and deliver the best with big smiles,” he said.

eCourier, one of the top delivery companies in the country which started out as a logistics service provider in 2015, now provides a range of products and services for businesses going online.

The company extended its service portfolio, including online channel integration services, inventory management and analytics along with multi-city fulfilment, express transportation and reverse logistics.

With presence in over 60 districts and in excess of 1,000 unions already, the company now plans to expand its network to levels none has stretched before.

Serving more than 5,000 direct partners across Bangladesh with its ever-growing team of more than 350 employees, eCourier has been experiencing more than 100 percent growth in delivery transactions in recent years.