Rocket Internet’s e-commerce site Lazada has received more investment today, this time from Swedish investment firm Kinnevik for a sum of $40 million. Lazada, which was just launched in March this year, operates in five Southeast Asian countries – Indonesia, Malaysia, Philippines, Vietnam, Thailand. Maximilian Bittner, the regional CEO of Lazada, noted:
Kinnevik has a proven track-record of investing in emerging markets and we are very excited to have such a knowledgeable and experienced investor on board. In addition to capital they will provide us with invaluable strategic insight of operating in such markets. It is also a strong testament to what we have accomplished so far and verifies that we are on the right track to achieve our aggressive strategic goals
TechCrunch rightly pointed out that it is interesting to see Lazada disclose the amount of its investment to the public. Previously, the Amazon clone has been quite vague when publishing any numbers. Magnus Ekbom, Lazada Indonesia’s managing director told me during our recent talk that they were unable to speak about any numbers in detail due to a number of reasons.
Kinnevik acquired a quarter ownership from Rocket Internet during the first quarter of this year. This latest investment move might be part of the bigger financial deal agreed between the Swedish and German companies. This is also the second investment Lazada has received recently, as you may recall that J.P. Morgan also invested in the company a couple of months ago.