Rocket Internet-backed Southeast Asian online retailer Lazada has secured $250 million (EUR 200.0 million) from new and existing investors, the round was led by Singapore’s Temasek.
Lazada, the Amazon of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam will use the cash for logistics, infrastructure, a payments solution and engineering. This round of funding comes just days after Jumia, Africa’s ‘Amazon’ also received $150m in funding from its investors in a move to build the continent’s biggest online store.
The funding round takes Lazada’s post-money valuation $1.5 billion and Rocket Internet’s total shareholding in Lazada changes from 26.7% to 23.8%. after it had invested EUR 15.3 million.
Lazada offers a wide range of products as well as multiple shopping services for shoppers looking for home appliances, consumer electronics to fashionable timewear pieces, Travel items, Toys, Kids and Babies among others.