Lazada Lands $250M, Bringing Total Backing to $486M
December 11, 2013
Southeast Asia’s largest online shopping marketplace Lazada has landed a massive $250 million round of funding from a group of investors including Tesco PLC, Access Industries, Investment AB Kinnevik and Verlinvest. The financing follows the company’s $100 million raise earlier this year and brings its total funding to an impressive $486 million since its founding in 2012.
The funding marks the first investment by multichannel retailer Tesco into a pure online player in the region. The partnership will span across customer analytics, private label development and supply chain management. Lazada sells electronics, apparel, household goods, toys, books and more, with operations in Indonesia, Malaysia, the Philippines, Thailand and Vietnam.