Tiki raises $258m funding, to develop supply chain, ‘Made in Vietnam’ technologies

Tuesday, Nov 09, 2021 16:20

The Tiki eco-system includes the e-commerce marketplace Tiki, Tiki Trading, which is a retail subsidiary, and TikiNOW Smart Logistics, an integrated supply chain platform. — Photo Courtesy of Tiki

Vietnamese e-commerce platform Tiki has raised US$258 million in its fifth funding round.

Led by AIA Insurance Inc., the round also attracted Mirae Asset-Naver Asia Growth Fund, Taiwan Mobile, Yuanta Fund, and STIC Investments, which is an existing shareholder.

Tiki plans to use the money for logistics and ‘Made in Vietnam’ technologies, two cornerstones in its value propositions.

After recently signing a 10-year comprehensive exclusive agreement with AIA Vietnam, Tiki is looking forward to develop an insurtech platform that offers a wide portfolio of insurance products and financial services.

The project will kick off with the launch of AIA’s health insurance products on Tiki possibly in end-December.

With this solution in place, customers will be able to get consultancy and make insurance claims right on the platform.

Tran Ngoc Thai Son, Founder and CEO of Tiki, said: “The $258 million investment … proves Tiki’s long-term commitment to building world-class infrastructure, and developing technologies, supply chain, talents… to turn potential into reality, hence creating sustainable values for Vietnamese users and businesses.”

Founded in 2010, Tiki has become a leading e-commerce player in the country with 4,000 employees and 20 million registered customers. — VNS

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