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Miguel Cordon · · 1 min readLogistics major Flash raises $150m to become Thailand’s first unicorn
Flash Group, a Thai full-service ecommerce logistics major, said it has raised a cumulative US$150 million from its series D+ and series E rounds to become the country’s first unicorn startup.
More funding details
- Lead investor: SCB 10X and the corporate VC arm of Thailand’s Siam Commercial Bank for the series D+ round and Founder’s Fund and Buer Capital for the series E round.
- Other investors: PTT Oil and Retail, eWTP Capital, TCP Group’s Durbell, Krungsri Finnovate, and Thailand’s Chan Wanich Security Printing Company
- Stage: Series D+ and series E rounds
More company updates
- According to Flash Group, the raise comes after it reached peak daily parcel volume of 2 million units. It accomplished this trough its core express delivery service Flash Express and its warehousing and fulfillment arm Flash Fulfillment.
- The startup said it plans to concentrate on its original goal of extending its business to other markets in Southeast Asia and then to other markets globally.
- It also looks to use the new funds to bolster its operations and invest in tech development, among its other service expansion efforts.
- The company in October last year raised US$200 million in a series D round led by PTT Oil and Retail to add more service offerings and further expand into Southeast Asian markets.
For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.
Editing by Collin Furtado and Jaclyn Tiu
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