Thailand-based Flash Group, a logistics startup also often called Flash Express, announced this week that it has raised $150 million in a Series D extension and Series E round.
While the corporate didn’t reveal its exact post-cash valuation, in line with a Reuters report, it’s valued at over $1 billion, making it the primary unicorn in Thailand.
In October, Flash Group raised $200 million in its first Series D round. The startup’s Series D expansion was led by SCB10X, the enterprise capital arm of Siam Commercial Bank, with participation from Chanwanich Security Printing Co.
Flash Group’s Series E round was led by Buer Capital, with participation from SCB10X, PTT Oil and Retail, Alibaba-backed eWTP Capital, TCP Group’s Durbell, Krungsri Finnovate and Chanwanich Security Printing Co.
To date, the corporate has raised a complete of $550 million.
Flash Group’s aggressive strategy
Founded in 2018, the corporate currently handles as much as 2 million shipments a day and is reported to be aiming to turn out to be one among the most important logistics firms in Southeast Asia, making Thailand the logistics hub of the region.
Flash Express entered the market with an aggressive pricing strategy, lowering the common delivery fee from 60 baht ($1.92) to 25 baht (80 cents), made possible by technology helping to pick essentially the most optimal delivery process.
Flash Groups’ full-featured, free Flash Radar technology suite enables online retailers to achieve analytical visibility into sales, manage inventory and print labels using a Flash printer or portable Flash Toy, and deliver positive customer experiences that keep consumers coming back repeat shopping.
Between Flash Express and Flash Home, the corporate’s franchise program, Flash Group has over 14,000 locations and drop-off points across Thailand.
Earlier this 12 months, the corporate announced three additional services: zero return delivery fees, increased insurance for goods value as much as 2,000 baht ($65.08), and guaranteed delivery services.
The way forward for Flash
Flash Group has big plans after the most recent price increase.
Flash Express currently employs 30,000 people and plans to extend this number by 10,000 by the top of the 12 months, with 70% of employees involved in delivery services. He also hopes to start out delivering items weighing greater than 441 kilos.
Flash Group plans to launch Flash Pay, a financial service enabling loans and online payments, which shall be positioned at PTT Oil and Retail gas stations.
The company goals to extend its domestic market share to greater than 500 billion baht ($16 billion) and start cross-border expansion in Southeast Asia.
Flash Group has not set a timeline for expansion beyond Thailand.
According to reports, once the corporate makes its international debut, CEO Komsan Lee will wish to take the corporate public.
Source: Bangkok Post
