A logistics e-commerce start up US $1B unicorn.
Thai logistics and e-commerce startup Flash Express is to enter Laos to develop the logistics industry.
The company has partnered with AIF Group of Laos to jointly form Flash Laos, a land and air delivery service in Laos that will allow customers to courier parcels between Thailand and Vientiane Capital,according to Tech in Asia.
Flash Laos will incorporate a mobile application that will allow users to book delivery services, track parcels, and check fees and charges straight from their mobile phones.
The two companies have said they expect to launch cross-border services between Thailand and Laos by November this year.
Flash Group becameThailand’s first unicorn businessafter raising USD 150 million in Series D+ and E funding just three years into the company’s operations.
A startup is considered a unicorn when it is valued at more than USD 1 billion.
Using Thailand as a regional logistics hub, Flash Group hopes to expand into full-service logistics operations in neighboring countries, according to a statement by the company.
AIF Group of Laos, meanwhile, maintains a broad portfolio spanning banking and financial services, telecommunications, construction, and property and infrastructure development.
Flash Express isnow listed as part of the company’s portfolioat its website.
(20min delay)