Vietnamese E-Commere Store Tiki Raised $130 Million in Latest Funding Round
In a funding round led by private equity firm Northstar Group, Vietnamese e-commerce store Tiki raised $130 million, according to Inside Retail Asia.
The company released a statement stating that the total value of the investment could increase by an additional $20 million. Northstar was founded in Singapore in 2003 with over $3 billion currently invested in more than 30 companies across Southeast Asia.
Furthermore, Tiki has informed authorities of a possible merger with rival platform Sendo as competition ramps up in the region's e-commerce market. Lazada and Shopee are also significant rivals. However, neither company has confirmed the merger.
Tiki reported a loss of $60.9 million last year.