Lazada secures $325m funding from Temasek and other investors

Lazada secures $325m funding from Temasek and other investors

SINGAPORE - Online retailer Lazada Group has secured 200 million euro (S$325 million) of funding led by Temasek Holdings, along with several existing investors including Rocket Internet, Kinnevik and Verlinvest.

CEO of Lazada Group, Mr Maximilian Bittner, said in a statement on Saturday (Nov 29): "This investment provides us with the strategic flexibility to further anchor our leadership position and enhance the shopping experience for our customers. We are extremely delighted to welcome Temasek as a new investor and long-term local partner and we are also very grateful for the continued confidence of our existing investors. To us, it is a clear recognition of our leading regional footprint, and an affirmation of the growth strategy and potential of our business."

"The eCommerce market in Southeast Asia is still in its early days and we will continue to invest in our operations to enhance our customer experience," he added.

The company plans to use the additional funds to expand and improve its logistics infrastructure, payment solutions and IT systems to enhance the shopping experience for its customers.

Since its operational launch in 2012, Lazada has expanded its operations in six countries - Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam - as well as a sourcing center in Hong Kong that drives cross-border marketplace activities.

It is valued at 1 billion euro post this investment round.

maryanns@sph.com.sg

 

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