Tk 100 crore invested, 200 hubs, 2,000 staff, and still the delivery firm shut down

According to a 2023 report in The Business Standard, a third-party e-commerce logistics company built in 2016 by four local entrepreneurs received an investment of Tk 100 crore from an Indian company in 2021. A further Tk 102 crore was due to come in April 2022, but it did not come because the global investment situation changed. Counting on that money, the company spread to more than 200 hubs, and its staff grew to more than 2,000. To capture the market, it cut its delivery charge outside Dhaka to Tk 75–85, when conservative companies were charging Tk 120–140. Its big customer was a marketplace that itself has more than a thousand vans; when that marketplace's sales fell, it took a hit. Although fuel prices rose, charges could not be raised. Tk 11 crore got stuck in a financial institution, and bills of more than Tk 7 crore remained owed by the collapsed Evaly. Towards the end, the cost of a thousand staff alone was about Tk 70 lakh a month. Operations stopped in September 2023, and a thousand people were at risk of losing their jobs. A former divisional head of the company said door-to-door delivery in villages was in many cases not sustainable, because the number of parcels was not enough.