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.