[Funding alert] Gurugram startup Ecom Express expands to Bangladesh; invests $11M in Paperfly
Through this investment, Gurugram startup Ecom Express will foray into the Bangladesh market, marking its maiden venture outside India.
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$11 million (about Rs 80.6 crore) in Bangladesh's largest third-party ecommerce logistics (3PL) firm
Paperfly.
Through this investment, Ecom Express is foraying into the Bangladesh market, marking its maiden venture outside India, the startup said in a statement.
"With more than 167 million inhabitants and over 90 million internet users, the ecommerce industry in Bangladesh is emerging and has become one of the fastest-growing markets in the region. The increasing per-capita disposable income has fueled higher consumption from expanding middle classes," it added.