Vietnamese startup KiotViet raises $45 mln from a global investment firm KKR
The leading merchant platform for micro, small, and medium enterprises in Vietnam, has a "terrific growth potential”, according to the statement, citing Ashish Shastry, co-head of Asia Pacific Private Investment Fund and head of KKR Southeast Asia.
The investment in KiotViet marks KKR’s sixth in Vietnam, said Shastry.
The store management software provider launched in 2014, offers cloud-based point-of-sale sales management solutions to more than 111,000 small and medium-sized enterprises.
KiotViet aims to drive the digital transformation of MSMEs, a key segment that accounts for approximately 40% of Vietnam’s economy.
The Company delivers an affordable, full-suite software solution that includes point-of-sale, inventory management, CRM, and employee management services to over 110,000 MSME customers.
KiotViet has additionally expanded to offer a B2B procurement marketplace and integrated logistics services for its merchants, and has plans to leverage its platform to provide financial services solutions such as payments and lending to customers.
With extensive experience, strong global network, and deep industry expertise, KKR KKR will strongly support KiotViet in its future development, said Hao Tran, Founder and CEO of KiotViet.
“We would also like to thank Jungle Ventures for their continued commitment in supporting our growth, as well as Kasikorn Bank and Cao Viet My for participating in this Series B funding round.”
KiotViet is KKR’s latest growth technology investment and adds to other recent investments including Lenskart, a leading omni-channel eyewear retailer in India, Adopt A Cow, a digitalized, direct-to-consumer dairy company in China, NetStars, the operator of Japan’s largest QR code payment gateway, and Walnut Programming, a children’s programming education company in China. Additional details of the transaction are not disclosed.
KiotViet eyes to become the most popular technology solution provider for enterprises in South East Asia by focusing on customer centricity, quality products, and excellence in service.
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities.
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Bloomberg | Manuel Baigorri