Vietnamese startup KiotViet, which gives cloud-primarily based totally POS software program for SMBs, raises $45M Series B led via way of means of KKR, after elevating a $6M Series A in 2019 — Vietnamese B2B startup KiotViet, a service provider platform for micro, small, and medium enterprises (MSMEs), has raised $forty five million.
It has been introduced that the Vietnamese B2B startup KiotViet has raised $forty five million from KKR and Jungle Ventures.
KKR, a worldwide personal fairness powerhouse that invests usually withinside the center market, has introduced the finishing touch of a $forty five million Series B investment spherical for Vietnamese B2B startup KiotViet, a service provider platform for micro, small, and medium enterprises (MSMEs). Jungle Ventures has additionally contributed to the spherical.
Cao Viet My, the own circle of relatives workplace of Cao Viet My, and Kasikorn Bank additionally participated withinside the current investment spherical.
KKR, a worldwide personal fairness powerhouse that invests usually withinside the center market, has introduced the finishing touch of a $forty five million Series B investment spherical for Vietnamese B2B startup KiotViet, a service provider platform for micro, small, and medium enterprises (MSMEs). Jungle Ventures has additionally contributed to the spherical.
Cao Viet My, the own circle of relatives workplace of Cao Viet My, and Kasikorn Bank additionally participated withinside the current investment spherical.
As a part of its Asian personal fairness fund, KKR has invested in KiotViet as a part of its funding program.
We are excited to announce our 6th funding in Vietnam in addition to the primary funding in Southeast Asia as a part of KKR’s boom era strategy. The success of this milestone will function a reminder of our dedication to imparting long-time period capital and value-delivered guide to high-boom era companies – which includes the ones at an early stage – thru our Asia Pacific Private Equity and Southeast Asia regions,” stated Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR.
In Asia, KKR has made various of new investments, which includes the Indian eyewear store Lenskart, the Chinese DTC dairy company Adopt A Cow, the Japanese QR code price gateway NetStars, in addition to the Chinese edtech company Walnut Programming.
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A current funding via way of means of KKR become made in Equest Education Group, a Vietnamese issuer of training offerings, on the way to fund its enlargement plans. As a part of this deal, KKR additionally led a $650 million spherical of financing for Vinhomes and a $359 million spherical of financing for Masan MEATLife (previously referred to as Masan Nutri-Science), the animal feed producer.
As a cloud-primarily based totally POS answer issuer for Vietnamese small and medium sized businesses, KiotViet become based in 2014. In addition to imparting stock control, coins float control, and advertising and marketing answers, it additionally gives omnichannel enterprise and control software program answers.
The organisation claims that it presently serves over 110,000 MSME clients and that wide variety is developing rapidly.
In current years, the organisation has extended its services to encompass a B2B procurement market and incorporated logistics offerings for its merchants. It additionally plans to leverage its platform on the way to offer clients with various economic offerings answers together with price and lending.
The addition of this new capital will make it feasible for them to provide a more variety of offerings to small businesses, which might be a vast contributor to the GDP of Southeast Asia as a whole, consistent with Jungle Ventures dealing with companion David Gowdey.
Earlier this year, KiotViet become subsidized via way of means of Singapore-primarily based totally VC company Jungle Ventures in addition to Indonesian unicorn Traveloka for about $6 million in its Series A investment spherical.
