This investment adds to JD’s growing presence in Southeast Asia, where it is already running an e-commerce platform in Indonesia and has partnership with Central Group in Thailand

Barely two months raising US$44 million from JD.com, Vietnam’s leading B2C e-commerce platform Tiki has secured another round of funding, co-led by the Chinese retail giant.

Vietnamese internet group VNG Corp. is the other lead investor in this round.

The closing of the Series C round is subject to conditions. Upon completion, JD.com will become one of the largest shareholders at Tiki.

JD will partner with Tiki in a range of areas, including merchandising, cross-border trade, logistics and fulfilment, technology, financing, and operational capabilities. Tiki and JD will co-operate to deliver a wider authentic selection from global brands to consumers, while helping Vietnamese local brands in expanding internationally via JD’s global platform.

Also Read: Thailand vs. Vietnam vs. Malaysia, who is leading the e-commerce market in Southeast Asia?

With this investment, JD adds Vietnam to its growing presence in Southeast Asia; it is already running an e-commerce platform in Indonesia and has a partnership with Central Group in Thailand.

Winston Cheng, President of International at JD said: “With JD’s expertise in leveraging social media for e-commerce, Tiki’s partnership with VNG in social network and mobile payments is a natural fit as we aim to provide differentiated services to suppliers and consumers in Vietnam.”

Previously, Tiki has received US$17 million from VNG in 2016.

Tiki was founded in 2010 and initially sold e-books, but it has since diversified to become an all-encompassing marketplace, selling goods such as toys, digital devices, lifestyle and beauty products. Last year, Tiki and insurance company FWD Life Insurance also inked a deal to sell personal accident insurance policies on the e-commerce platform. FWD and Tiki offered 100,000 customers free online insurance products to kick start the partnership.

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