Wefast

About Wefast

Borzo, which operated in India as Wefast until its global rebranding in 2021, is an intracity same-day delivery service provider. The company was founded in 2012 by Mike Alexandrovski, Aleks Shamis, and Dmitry Zubkov and entered the Indian market in 2016. The initial concept for the company reportedly stemmed from an idea for a mobile game where players would deliver virtual items, which then pivoted to handling real-world packages.

The firm operates on a crowdsourced, platform-based business model, connecting customers with a network of independent couriers through a mobile application and website. This model allows individuals and businesses to book on-demand deliveries without needing a contract or account setup. Revenue is generated by taking a commission from the delivery fee charged to the customer. The platform's algorithms are designed to optimize for speed and efficiency by assigning the nearest, highest-rated courier to an order, considering factors like route and package contents to enable parallel deliveries.

Borzo serves both B2B and B2C clients, with a significant focus on small and medium-sized enterprises (SMEs). These businesses utilize the service for last-mile delivery of items ranging from documents and food to electronics and pharmaceuticals. The service promises rapid fulfillment, often within 60-90 minutes, and offers real-time tracking for all shipments. The fleet includes a variety of transport options, from two-wheelers to trucks, to accommodate different parcel sizes and weights. In January 2022, Borzo acquired NOW, an Indian 90-minute delivery firm, to bolster its last-mile capabilities.

Globally, Borzo operates in 10 countries, with India representing a substantial part of its business. The company has secured significant funding to fuel its expansion, including a $35 million Series C round in August 2021 led by Mubadala and VNV Global. The total funding raised amounts to $94 million over five rounds.