⚡️Flashback. Flash Express became Thailand's first unicorn back in 2021. 

Whether it be B2B, B2C, or C2C delivery, Flash Express has got it all covered! This logistics and delivery company offers a door-to-door delivery and pickup service for businesses and individuals across the Philippines, Malaysia, and Thailand.

• Funding. Flash Express raised their Series F in December 2022, with their funding amount totaling $781M since its founding in 2017.
• Investor check. TCP Capital and Alibaba's eWTP Capital are on Flash's cap table.

Flash Express is one of the top courier companies in Thailand, delivering over 2 million parcels daily through all 77 provinces in Thailand! 

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🇹🇭 The market. 

E-commerce tailwind. Flash began at a time when the market was big and experiencing accelerated growth. The growth in commerce continues to increase the demand for logistics services. 

• As of 2023, the e-commerce user penetration in Thailand is around 50% and is expected to hit 63.5% in 2027. 
• This year, the e-commerce market value is expected to grow by 8-13%. This growth is partly due to the increased adoption of live commerce and the traction gained from cross-border e-commerce. 

Continued competition. The market is not without competition from new and incumbent players — Flash has around 15% market share. 

• Kerry Express, based in Hong Kong, is a market leader in Thailand, with over 29% of the market share. 
• Thailand Post is a state-run postal service and takes up around 20% of the market. 

Despite the competition, Flash continues to expand aggressively by investing in new technologies and more staff. As of Q4 2022, they employ over 35k people and a fleet of 17k vehicles in Thailand alone. 

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🤯 The beginning. Flash Express was founded by Komsan Lee, a young businessman who came from humble beginnings. 

At the time, Flash made a splash in the logistics sector by taking a penetration pricing strategy. The lower starting delivery fee allowed Flash to start off strong as a newcomer in the market: 

• Flash = 25 baht = $0.72 USD 
• Competitors = 60 baht = $1.73 USD 

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🏍️ Complete stack. 

Flash is not just a logistics company. They've built their own infrastructure and have their in-house delivery staff and warehouses. In addition to this, they also offer tools such as Flash Radar which allows online vendors to gain insight into their customer data. 

• Scaling by density. Flash has set up 22 distribution centers throughout Thailand to efficiently serve both urban and rural areas. They also have over 2500 delivery points! 
• Automated operations. Each warehouse is equipped with machines that can sort more than 40k parcels per hour. 

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🚀 Flash forward. 

In 2023, Flash hit the ground in the Philippines and began its operations, but it seems that the company has its eyes set on more than one SEA market. 

"The Philippines is the main focus for this year, and we are studying providing delivery service in Vietnam,"

Flash also has other big plans for the future. 

"Today, we use motorcycles, cars, and other vehicles to deliver goods. In the future, we will use robots and drones." 

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