Southeast Asia’s Internet Retailer Lazada has raised another USD 250 Mn, from a group of investors including Tesco PLC, Access Industries, Investment AB Kinnevik and Verlinvest.
Launched just an year back, this venture of Rocket Internet has raised 6 fundings so far, in September, 2012, it raised USD 50 Mn from JP Morgan, in November 2012 it raised USD 40 Mn from Kinnevik, later Summit Partners added USD 26 Mn in December 2012, Tengelmann Group invested USD 20 Mn in January 2012 and recently it added USD 100 Mn from the existing investors .
This is multi-channel retailer,Tesco’s, first investment into a pure online player like Lazada. As per the release, the synergies of this partnership will span across customer analytics, private label development and supply chain management.
“Strategic cooperation between long-term financial investors and industry partners can add significant growth momentum and enhanced profitability to e-commerce businesses. We welcome Tesco’s investment in Lazada and look forward to working with them in supporting Maximilian and his team,” said Mia Brunell Livfors, CEO of Kinnevik.
Also, with this investment, Tesco is looking forward to develop its leading multi-channel business in core growth markets. Owing to the fact that Lazada has a strong position to grow, with more than 600 Mn South East Asia’s consumers have begun to use Smartphones to access retailers online.
Along with the raised funds, Lazada also launched Lamido in Indonesia and Vietnam, to tap into the large informal eCommerce market of C2C transactions which includes thousands of shops on social networks such as Facebook.
Currently, it operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam.
Apart from the funding raised in 2012, within an year, Lazada has raised around USD 350 Mn, which clearly signifies the trust it has built in the investors in the company. Also, 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.
To contact author, email at firstname.lastname@example.orgCategory Investments News