Vietnamese e-commerce major Tiki is looking to raise a series D round of $50-60 million which is expected to close this year, people familiar with the matter, told this portal.
Part of the fundraising is expected to be used to pare its loss, one of the people quoted above added. VNG Corporation, Southeast Asia’s earliest unicorn, invested VND384 billion ($17 million) in the e-commerce startup last year. VNG, which has nearly 2,000 employees, was backed by IDG Ventures and Cyberagent Ventures, which all exited the company. Seen as Vietnamese peer to Garena, it is the leading player in the local gaming industry and also has operations in advertising, social apps and media.