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Miguel Cordon · · 1 min readMalaysian B2B procurement marketplace banks $1.8m from Nexea, others
Malaysia’s Lapasar, a wholesale-tech company that connects corportions to suppliers, has raised 7.5 million ringgit (US$1.8 million) in its most recent round of funding.
More funding details
- Lead investor: Shopper360
- Other investors: Angel investors, family offices, and corporate investors from the network of venture capital firm Nexea, as well as PitchIn and individual investors
- Stage: Unspecified
More company updates
- Lapasar will use the new funds to accelerate the growth of its wholesale business, targeting to serve about 10,000 grocery stores, restaurants, and hawker stores over the next 24 months.
- The business-to-business marketplace said it aims to be the largest wholesale platform in Malaysia by 2025 and generate over 2 billion ringgit (US$485.9 million) in revenues.
- Lapasar previously secured US$500,000 in a seed round led by Singapore-based VC firm SeedPlus.
- Along with HealthMetrics, Lapasar recently passed the Local Selection Panel event of Endeavor Malaysia, a company that supports high-impact entrepreneurs and founders in the country.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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