Flash Express raises US$ 200M in Series D funding

Thailand-based e-commerce logistics startup, Flash Express raises US$ 200M in a Series D funding round held in October 2020. The round was led by PTT Oil and Retail Business Public Company Limited (PTTOR), along with participation from Krungsri Finnovate, Durbell and its existing investors. Flash Express is also backed by the Alibaba Group.

The fresh funds raised in this round will be used to develop the startup’s technology and operations in Thailand and also to expand into another Southeast Asian country.

Learn more about Flash express

Flash Express, founded in 2017 by Komsan Lee and Weijie Di, is a leading logistics and courier delivery startup that works with e-commerce companies in Thailand. It uses its fully built in-house technology and Big Data to normalize and automate the delivery process. Along with the Flash express service, it also offers Flash Logistics that provide delivery service for large and bulky items and Flash Fulfillment that deals with goods storage. In addition, Flash Home for parcel delivery at customers’ homes and Flash Money offering various financial services.

The startup employs more than 10K people and operates in 77 provinces of Thailand with over 2,500 delivery points. Flash Express is the first service provider in Thailand to maintain the policy of delivering parcels for free at the customer’s doorstep since Day 1 and also provides 365-day service.

These days, the startup delivers more than 300K pieces per day. Apart from professional delivery service, they also have a goods protection program to ensure customer confidence in both cases, either the parcel getting lost or the customer receives a damaged product. In addition, they also provide COD service (cash on delivery) to ease the payment process.

CEO Komsan Lee said that his startup intends to assist small and medium enterprises in lowering their investment costs because they believe it will provide long-term benefits for the entire Thai economy in the digital era.

The startup has raised approx. US$ 400 million in total funding to date from leading VC funds and companies in Asia.

PTTOR operates in the oil and retail business along with related businesses, determined to develop goods and services so as to deliver remarkable experiences to all consumers. It also supports and fosters SMEs working in the oil and retail business while encouraging the development of a good quality of life for society and communities.

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