HANOI, Vietnam–(BUSINESS WIRE)–KiotViet, a main service provider platform for micro, small, and medium organisations (MSMEs) in Vietnam, and KKR, a worldwide funding company, nowadays introduced the signing of definitive agreements below which KKR will take part because the lead investor withinside the US$forty five million Series B investment spherical of KiotViet (“the Company”), with participation from its present investor, Jungle Ventures.
KiotViet pursuits to power the virtual transformation of MSMEs, a key phase that bills for about 40% of Vietnam’s economic system. The Company promises an affordable, complete-suite software program answer that consists of point-of-sale, stock control, CRM, and worker control offerings to over 110,000 MSME customers. KiotViet has moreover improved to provide a B2B procurement market and incorporated logistics offerings for its merchants, and has plans to leverage its platform to offer monetary offerings answers inclusive of bills and lending to customers.
Hao Tran, CEO of KiotViet, said: “Micro, small and medium organisations play a critical function withinside the home economic system as a motive force for Vietnam’s destiny increase. Through KiotViet’s reachable and progressive answers, we need to assist home-grown MSMEs digitalize their companies, beautify their operational efficiency, in addition to unharness their complete potential. We are excited to welcome KKR as our new investor and are assured that their full-size experience, robust worldwide network, and deep enterprise know-how will show valuable property to our Company as we embark on the following section of our increase journey. We could additionally want to thank Jungle Ventures for his or her endured dedication in helping our increase, in addition to Kasikorn Bank and Cao Viet My for taking part on this Series B investment spherical.”
Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, said: “We are excited to put money into KiotViet, an progressive commercial enterprise with notable increase potential. Our funding in KiotViet marks our 6th in Vietnam and is the primary made thru KKR’s increase generation approach in Southeast Asia. This milestone displays our dedication to supplying high-increase generation businesses – inclusive of the ones at an in advance stage – with lengthy-time period capital and value-delivered guide.”
Louis Casey, KKR’s increase generation lead in Southeast Asia, said: “KKR’s funding in KiotViet aligns with one in every of our center issues of backing companies which are allowing MSME digitization thru software program and monetary generation. Our funding philosophy is based on true, value-delivered collaboration with founders over the lengthy time period, and we’re thankful for the possibility to paintings carefully with the KiotViet crew to guide the Company’s subsequent tiers of increase with the aid of using leveraging KKR’s software program know-how and worldwide network.”
David Gowdey, Managing Partner of Jungle Ventures said: “We had been operating carefully with the KiotViet control crew in view that our authentic funding in 2019 and had been inspired with how the commercial enterprise has developed from fundamental small commercial enterprise software program to a multifaceted small commercial enterprise platform. The addition of this new capital will most effective allow them to offer extra offerings to small companies, who as a phase are a main contributor to GDP during SE Asia. We are excited to have KKR as a part of this journey.”
KKR is making its funding in KiotViet from its Asian personal fairness fund. KiotViet is KKR’s trendy increase generation funding and provides to different current investments inclusive of Lenskart, a main omni-channel eyewear store in India, Adopt A Cow, a digitalized, direct-to-customer dairy employer in China, NetStars, the operator of Japan’s biggest QR code charge gateway, and Walnut Programming, a children’s programming schooling employer in China. Additional info of the transaction aren’t disclosed.
About KiotViet
KiotViet is dedicated to growing efficient, handy merchandise to assist hundreds of thousands of MSMEs run their companies extra without difficulty and efficiently. Our imaginative and prescient is to come to be the maximum famous generation answer issuer for organisations in South East Asia with the aid of using that specialize in patron centricity, first-rate merchandise, and excellence in service. For extra info, please go to www.kiotviet.vn.
read more news : VietKiot KKR 6M Invests In Vietnamese POS Startup KiotViet
About KKR
KKR is a main worldwide funding company that gives opportunity asset control and capital markets and coverage answers. KKR pursuits to generate appealing funding returns with the aid of using following a affected person and disciplined funding approach, using world-magnificence people, and helping increase in its portfolio businesses and communities. KKR sponsors funding budget that put money into personal fairness, credit score and actual property and has strategic companions that manipulate hedge budget. KKR’s coverage subsidiaries provide retirement, existence and reinsurance merchandise below the control of The Global Atlantic Financial Group. References to KKR’s investments can also additionally encompass the sports of its backed budget and coverage subsidiaries. For extra statistics approximately KKR & Co. Inc. (NYSE: KKR), please go to KKR’s internet site at www.kkr.com and on Twitter @KKR_Co.
Contacts
Media:
KiotViet
Tri Cao
+eighty four ninety six 9817207
Tri.Cao@citigo.net
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com
Zita Setiawan
+sixty five 6922-5835
Zita.Setiawan@secondee.kkr.com
KKR Americas
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com
