Tiki, a Vietnam-based e-commerce startup, reportedly has received US$130 million in a new funding round led by Singapore-headquartered private equity firm Northstar Group.
e27 reached out to Tiki for the news but the representative declined to give any comment.
According to DealStreetAsia, the funding round may still continue until it raises up to US$150 million in funding.
Some names involved as investors on Tiki’s cap table include Vietnamese unicorn VNG, Japanese firms CyberAgent Capital and Sumitomo Corporation, Chinese retailer JD, Singapore’s EDBI, as well as South Korean funds SparkLabs Ventures, Korea Investment Partners, and STIC Investments.
Also Read: How Vietnam’s e-commerce firm Tiki is tiding over COVID-19 crisis
Tiki was founded in 2010 as a bookselling platform before growing into an online marketplace, fulfillment centres, and logistics network composed into one e-commerce platform.
When the company announced its Series C funding round in 2018, Chinese online retailed JD was said to be one of its largest shareholders. The company’s investment into Tiki is part of its strategy to enter the lucrative Southeast Asian market, after securing a presence in Indonesia and Thailand.
In 2019, as part of its effort to expand its vertical and become a one-stop platform, Tiki bought event ticketing startup Ticketbox for an undisclosed sum.
Just recently, it has been reported that Tiki and local rival Sendo have attempted to merge their businesses. DealStreetAsia reported that the two e-commerce players had reached an agreement on the merger with no updates on whether the transaction has been approved by the National Competition Committee.
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Image Credit: Tiki
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