The company said on Monday that it had raised $200 million in a new round of financing because it wanted to redouble its efforts in a market with fast-growing demand stimulated by the new pandemic. < / P > < p > flash express, which operates pick-up and delivery services, claims to be the second-largest private company in the field. The start-up, which also counts Alibaba as an investor, entered the market with a delivery fee of as little as 60 cents per package, which quickly earned it a large market share. < / P > < p > the start-up has also been actively expanding in the past year. At this time last year, flash express had about 1100 distribution points. Now it has more than 5000, more than the 138 year old Thai post. Currently, flash express delivers more than 1 million packages a day, up from about 50000 in the same period last year. The start-up said it had also invested heavily in technology and could process more than 100000 parcels in a minute through a fully automated sorting system. Komsan Lee, chief executive of flash express, said the start-up plans to deploy new funds to launch new services and expand them to other Southeast Asian markets. “We are also ready to create and develop new technologies to achieve higher delivery and logistics efficiency. More importantly, we intend to help SMEs reduce investment costs, which we believe will bring long-term benefits to Thailand’s overall economy in the digital age, “he said. < / P > < p > even though online shopping and delivery have accelerated in recent months, some estimates suggest that the overall logistics market will shrink for the first time in history this year. Chumpol saichuer, chairman of the transport and Logistics Association of Thailand, said last month that Thailand’s logistics business had been hit hard by the global economic slowdown. Google said the proposed media negotiation rules would put its free services in Australia at “risk”

By ibmwl