Vietnamese ecommerce firm Tiki raises $20m from Taiwan Mobile

Details:

• The round, which is Taiwan Mobile’s first investment in Vietnam, will help Tiki and the telco’s ecommerce platform, Momo, explore potential partnerships and new growth opportunities beyond Vietnam.
• DealStreetAsia reported on July that Tiki secured the first close of its series E round worth around US$100 million. However, Tiki declined to comment on the matter.

Dive deeper:

• Last year, Tiki raised around US$130 million in funding from private equity firm Northstar Group. (Read: How a potential merger can shake up Vietnam’s $23b ecommerce market)
• Founded in 2010, local player Tiki was surpassed by regional ecommerce firm Shopee in around 2019. (Read: Why Shopee and Lazada dominate local players – but not Tokopedia)