Tiki set to raise up to $200 mln in new funding round
Tiki set to raise up to $200 mln in new funding round
E-commerce startup Tiki is raising $150-200 million in its latest funding round in the next few months.
A Tiki employee installs a TV under the TikiPro service. Photo courtesy of Tiki.
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If successful, it will be among the highest funding rounds in Vietnam’s technology startup ecosystem, financial news site DealStreetAsia reported.
In June 2020, Tiki had raised $130 million from Singaporean private equity firm Northstar Group. Northstar is said to be involved in the current round too.
Tiki planned to merge with another e-commerce firm, Sendo, last year, but the plan collapsed when some shareholders refused to agree to the terms of the merger.
Tiki sells electronics and household appliances on its platforms, and buyers can use its TikiPro service to have their appliances installed.
It reported losses of VND3.8 billion ($165,210) last year, down from a record VND1.7 trillion in 2019.
It plans to list its shares on a local stock exchange in 2023, and begin providing financial services to its customers in the next five years.
Tiki is the second most popular e-commerce platform in Vietnam in terms of hits behind only Shopee. It had 22.3 million monthly visits in the last quarter of 2020, according to data collected by Malaysian online shopping aggregator iPrice Group.
