KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs) in Vietnam announced that it has raised $45 million in its Series B funding round led by global investment firm KKR.
Existing investor Jungle Ventures, a Singapore-based venture capital firm, Kasikorn Bank, and family office Can Viet May also participated in the funding round.
Founded in 2014, KiotViet provides cloud-based POS solutions for Vietnamese SMEs. It offers omnichannel business and management software solutions that include inventory management, cash flow and marketing.
The company claims that it is serving over 110,000 MSME customers to date.
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.
“We are excited to welcome KKR as our new investor and are confident that their extensive experience, strong global network, and deep industry expertise will prove invaluable assets to our Company as we embark on the next phase of our growth journey,” said KioViet CEO Hao Tran.
KKR is making its investment in KiotViet from its Asian private equity fund. 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.
“We are excited to invest in KiotViet, an innovative business with terrific growth potential. Our investment in KiotViet marks our sixth in Vietnam and is the first made through KKR’s growth technology strategy in Southeast Asia,” said Ashish Shastry, co-head of Asia Pacific Private Equity and head of Southeast Asia at KKR.
This milestone reflects KKR’s commitment to providing high-growth technology companies – including those at an earlier stage – with long-term capital and value-added support, Shastry.
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