Hong Kong – August 3, 2021 – Cooley advised ecommerce logistics startup company Flash Group on its $150 million Series D+ and Series E financing rounds – transactions that make the company Thailand's first unicorn. Partners Will Cai and Michael Yu led the Cooley team advising Flash Group, with support from Harvey Yao.
SCB 10X led the Series D+ round, with an additional investment from Chanwanich Company Security Printing. Buer Capital Ltd. led the Series E round, with participation from existing investors SCB 10X, eWTP Capital, PTTOR, TCP Group's Durbell Co. Ltd. and Krungsri Finnovate. Flash Group will use the new capital to support improvements in operations, technology development and other service expansions.
Komsan Lee, co-founder and CEO of Flash Group, said the company will continue to be a one-stop service provider for ecommerce beyond Thailand, with a focus on accelerating its expansion of services on an international level, beginning with countries in the Southeast Asian region.
Flash Group was established with the mission to provide logistics and other infrastructure for Southeast Asian ecommerce platforms. Many businesses have developed under the company's umbrella, including Flash Express, an express delivery service that utilizes technology and big data to optimize efficiency and service. Flash Express has soared to become the No. 1 private transport service provider in Thailand, with 2 million deliveries per day.