Rocket Internet venture, Lazada, an online retail sales business focusing on Southeast Asia, has raised $100 million with participation from existing investors Holtzbrinck Ventures, Kinnevik, Summit Partners and Tengelmann Group and Belgium-based consumer investment firm Verlinvest.
Launched just a year before, Lazada had raised 5 fundings so far, in September, 2012, it raised USD 50 million from JP Morgan, in November 2012 it raised USD 40 million from Kinnevik, later Summit Partners added $26 million in December 2012 and Tengelmann Group invested $20 million in January 2012. Taking total funds raised by it to USD 236 million.
Lazada operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam. “We see the same positive trends across the region,” said Maximilian Bittner, CEO, Lazada. “What a country like Vietnam or Indonesia may not have in GDP they make up for in enthusiasm for online.”
This latest round of funding will be used by the company in improving logistics and the group’s supply chain.
Started with selling only consumer electronics items, now it has increased its offerings to books, home appliances, kids and babies items and more and has adopted a marketplace model this year and going on to pass one million orders within the last month, states reports. The firm had reached “three-digit million euros” in GMV (gross merchandise value) annualized last month.
The site has also introduced Android app and is soon going to launch an iPhone app.
Apart from Lazada, recently one more SEA focused venture of Rocket i.e. Zalora and online fashion retailer has raised $100 mn in May from similar investors and Russia’s Lamoda raised $130 mn, also Africa-based Jumia had picked up $35mn in recent fundings. Adding to the list other sites which had recently got investments include Namashi, Dafiti, etc.
Well the recent volume of investments put in by investors in Rocket Internet, highlights the possibility of several ecommerce players in the established market to go for an global expansion and might find Rocket ventures their sweet acquisitions.