Vietnam merchant-platform startup raises $45m from KKR
KiotViet to apply clean capital for growth into finance and logistics
HANOI — Vietnamese commercial enterprise-to-commercial enterprise startup KiotViet, a service provider platform for micro, small and medium enterprises (MSMEs), has raised $forty five million in a Series B spherical from personal fairness organisation KKR with participation from present investor Jungle Ventures.
The declaration confirms DealStreetAsia’s in advance file on KiotViet’s fundraising plans.
Kasikorn Bank and own circle of relatives workplace Cao Viet My additionally participated withinside the trendy investment spherical.
KKR’s funding in KiotViet has been carried out thru its Asian personal fairness fund.
“Our funding in KiotViet marks our 6th in Vietnam and is the primary made thru KKR’s increase generation method in Southeast Asia. This milestone displays our dedication to supplying high-increase generation companies — which includes the ones at an in advance stage — with long-time period capital and value-delivered support,” stated Ashish Shastry, co-head of Asia Pacific Private Equity and head of Southeast Asia at KKR.
KKR’s current investments in Asia encompass Indian eyewear store Lenskart, Chinese direct-to-client dairy organisation Adopt A Cow, Japanese QR code charge gateway NetStars, and Chinese edtech organisation Walnut Programming.
KKR maximum these days invested in Vietnamese training offerings issuer EQuest Education Group to gas the latter’s growth. KKR additionally led actual property developer Vinhomes’s $650 million spherical and $359 million in financing for animal feed manufacturer Masan MeatLife.
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Founded in 2014, KiotViet offers cloud-primarily based totally point-of-sale offerings for Vietnamese SMEs and says it’s far serving over 110,000 commercial enterprise customers.
KiotViet has improved to provide a B2B procurement market and incorporated logistics offerings for its merchants, and has plans to offer economic offerings answers along with bills and lending to customers.
“The addition of this new capital will handiest allow them to offer greater offerings to small businesses, who as a section are a primary contributor to GDP for the duration of Southeast Asia,” stated Jungle Ventures dealing with accomplice David Gowdey.
KiotViet closing raised about $6 million in its Series A spherical from Singapore-primarily based totally Jungle Ventures and Indonesian unicorn Traveloka.
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