Lazada, a Southeast Asian online shopping mall, raised an approximately US$250m funding round.
Backers included Tesco PLC, Access Industries, Investment AB Kinnevik and Verlinvest. This is the first investment by multichannel retailer Tesco into an online player in the region. Synergies of this partnership will span across customer analytics, private label development and supply chain management.
Led by Maximilian Bittner, CEO, Lazada provides an online shopping mall offering products in categories ranging from mobiles & tablets and consumer electronics to household goods, toys, fashion and sports equipment.
The company has operations in Indonesia, Malaysia, Philippines, Thailand and Vietnam where it employs around 1,500 employees.