Tiki raises $20 mln from Taiwanese investors
Tiki raises $20 mln from Taiwanese investors
E-commerce platform Tiki has raised $20 million from telecom operator Taiwan Mobile in return for a 2.7 percent stake in Tiki Global.
A Tiki shipper holds a delivery. Photo courtesy of Tiki.
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The Series E funding deal values the Vietnamese company at $740 million, with Tiki having secured $94 million in the series within this month alone, according to Deal Street Asia.
Before the Series E, foreign investors held a 49.4 percent stake in Tiki. The biggest shareholder among them is Chinese e-commerce giant JD.com with a 18.2 percent stake.
Tiki had recently raised VND1 trillion ($43.9 million) in bonds with a coupon rate of 13 percent a year.
The company posted a loss of VND4 billion last year.
As one of the fastest-growing digital economies in Southeast Asia, Vietnam’s e-commerce sector is expected to be worth $23 billion by 2025, according to the e-Conomy Southeast Asia 2019 report by Google, Temasek Holdings, and Bain & Company.
