Thailand’s Flash Group Raises $150m in Latest Series D+ and Series E Funding
Flash Group, Thailand’s leading one-stop full service e-commerce logistics company, recently announced the closing of $150m Series D+ and Series E funding.
SCB10X, the CVC of Thailand’s Siam Commercial Bank, led Series D+ round, with additional investment from Thailand’s Chanwanich Security Printing Company. Series E round is led by Singapore based Founder’s Fund Buer Capital, and existing investors SCB10X, eWTP Capital, PTTOR, TCP Group’s Durbell, Krungsri Finnovate all participated. Flash is now a top express delivery player with peak daily parcel volume of 2 million and will become the first unicorn startup in Thailand.
Flash was established with the mission to provide logistics and other infrastructure for Southeast Asian e-commerce platforms. Under the Flash Group umbrella, many business lines have achieved significant development and growth. Flash Express is the core express delivery service that utilizes technology and big data to optimize efficiency and service. Flash Fulfillment offers warehousing and fulfillment solutions and has already accumulated many renowned international brands as its customers. In addition, Flash Group is in the process to prepare other value-added business lines and Southeast Asian expansion. The new funding will further support improvement in operations, technology development, and other service expansion.
“Proudly success of Flash Team, building trust from our investors to believe in our capability. Moreover, to gain support from investors is one key strategy of Flash Group. With our confidence of having good business partners will build a good and strong business fundament, then grow sustainably. From now on, Flash will gradually announce joint business plans with our investors. Firmly, key strategies will focus on one stop service for E-Commerce business in Thailand and overseas. We will concentrate on our original intention to begin the business expansion in SEA first. Covid situation may be a challenge obstacle for us, yet we will continue to move forward with an expectation for a solid development plan in Q4, 2021 after some business will be launched in SEA.” Komsan lee, CEO &Founder of Flash Group said.