With hyperlocal deliveries gaining traction, Borzo (formerly WeFast), a global delivery service that enables intra-city deliveries for businesses in 22 cities in the country, is aiming to grow the number of deliveries in India four-fold in two years. The company is also likely to make substantial investment in India to grow its business as well as to support its global operations.
“India is one of the countries where we have invested the most over time, at least of the money we have raised. While our regions are relatively well-balanced in the world, India is showing perhaps the biggest traction. India is currently probably one of our biggest priority, globally,” Rami Saab, CEO, Borzo said.
Eugene Panfilov, general manager, Borzo India said, “We are already one of the top three players in the small and medium business (SMB) segment. So a couple of years back, we started approaching the enterprise segment in India, and we see good traction. We have made an acquisition and looking for growth in both these segments. Let me say we are aiming to grow 4 to 5 times in [terms of] number of deliveries in the next 2 years.”
According to Mr. Saab the company is looking at two streams for growth in India. “One is basically aggressive expansion into the enterprise segment. It is a new segment for us that has shown a lot of traction in the last couple of years. With respect to SMBs, we will continue to grow the footprint that we have developed in the last six years. And we will see a lot of synergies between the two segments, notably with respect to the supply base,” he said.
“So a courier, in the future, will be able to work for us on different types of orders across the city, more locally in their neighbourhood. This is what we want to offer to this community down the line. And so this is why going into the enterprise segment for us is key to our strategy to continue and grow despite the footprint that we have across the countries,” he added.
Hyperlocal delivery is focused on perishable items like food, groceries and pharma. The SMB segment deals with lot of ecommerce items, electronics and apparels.
The company which has 250 employees and more than 200,000 active couriers in India is planning to scale up its investment.
Asked about whether the company has any plans to set up any a back-office in India, Mr. Saab said, “We are thinking about it very actively, I would not be surprised if we you will see things happening very soon. You asked about if we would invest more into like a back-office in India, I think we are a bit more ambitious than just a back-office.”
He said the company has an objective to reach 20% electrification of its delivery fleet by the end of the year.
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