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CDC Group, the UK-based development finance institution and impact investor in South Asia and Africa, today announced that it has closed a $36 million equity investment in Warburg Pincus-backed Ecom Express, a fast-growing, tech-enabled logistics company.
Ecom Express offers express delivery services to the e-commerce industry and claims its network reaches 90 per cent of India’s population, with more than 85 per cent of its presence in Tier-2, 3 and 4 cities and hinterlands. The new investment will help support the development of smaller, harder-to-reach towns as they are brought into the e-commerce fold.
In addition to network expansion and augmentation, CDC’s
