Kinnevik funds Lazada for faster regional expansion
Lazada, the leading fashion online store in Southeast Asia has confirmed that received fund of US$40 million (RM122.7 million) from its new investor, Investment AB Kinnevik after its announcement on investment by J.P. Morgan in September this year.
Henrik Persson, Head of Investments at Kinnevik said that they are delighted to invest in a company who has perfectly positioned themselves as the major e-commerce player in Southeast Asia which has more than 600 million inhabitants.
Maximilian Bittner, Regional CEO at Lazada commented that Kinnevik not only able to help Lazada to expand quickly in the region, they will provide Lazada invaluable strategic insight of operating in emerging market with their knowledge and experience in such market.
by Alice Lee