Lapasar secures RM31 million investment from prominent investors, signaling aggressive growth plans in the FMCG sector with the aim to reach RM1 billion revenue by 2026. The tech-enabled distributor plans to enhance its product range and operational capabilities to solidify its position in Malaysia’s FMCG industry.
24 February 2024 – Lapasar Sdn Bhd, a local startup, has successfully raised RM31 million in investments from notable backers such as Retirement Fund (Inc)(KWAP), Creador Conscienta LLP, Gobi Dana Impak Ventures (GDIV), and Adaptive Capital Partners. This substantial funding will fuel Lapasar’s aggressive expansion plans within the fast-moving consumer goods (FMCG) sector, with the aim to triple its revenue to RM1 billion by 2026 from RM295 million in 2023.
The tech-enabled FMCG distributor currently serves over 6,000 mom-and-pop stores and restaurants, and plans to further enhance its product range and brand collaborations. Lapasar’s CEO, Thinesh Kumar, emphasizes the company’s commitment to technological innovation and operational efficiency, aiming to solidify its position as a leading distributor in Malaysia’s FMCG industry. – ref: The Edge
