Tiki raises $258 mln from global investors

By Dat Nguyen   November 7, 2021 | 11:02 pm PT
Tiki raises $258 mln from global investors
A Tiki deliveryman hands over a package to a receiver. Photo courtesy of Tiki
E-commerce company Tiki raised $258 million in its latest funding round as it eyes a U.S. IPO.

The series E funding round was led by AIA Insurance Inc, and included UBS AG London Branch, Mirae Asset-Naver Asia Growth Fund and Taiwan Mobile Co.

Tiki had planned to list in the U.S. by 2025, but it now plans to do so in a year’s time, Tiki founder and Chief Executive Officer Tran Ngoc Thai Son told Bloomberg in an interview.

The company expects revenue growth of 40-50 percent in the next few years, he added.

Vietnam is expected to have 53 million online consumers, or 71 percent of its population aged 15 and older, by the end of this year, an 8 percent rise from 2020, according to a report in August by Facebook and Bain & Co.

Tiki in June raised VND1 trillion dong ($44 million) from bonds issuance.

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