Lazada, Southeast Asia’s largest online shopping mall, has announced that Verlinevest, a Belgian family-owned, consumer-focused investment holding company has injected $100 million of fresh capital into Lazada’s German holding company.
Existing investors Holzbrinck Ventures, Kinnevik, Summit Partners and Tengelmann Group also participated in the financing round.
One-year old Lazada recently surpassed 1 million orders and maintains that customer experience is its main point of focus, with much investment thrown in to provide the best service to customers. According to Lazada, 90% of all its orders are shipped on the same day, and 85% of orders in metro areas are delivered the next day.
Lazada, Southeast Asia’s largest online shopping mall, has announced that Verlinevest, a Belgian family-owned, consumer-focused investment holding company has injected $100 million of fresh capital into Lazada’s German holding company.
With the fresh investment, Lazada will be looking to improve delivery time and customer satisfaction further.
While still the new kid on the block, Lazada looks to emulate and compete with the likes of Amazon and eBay in the e-commerce and mobile commerce space.
Lazada also announced the launch of its new mobile app that will enable customers to shop via their Android devices, with an iOS version coming soon. Mobile commerce represents more than 10% of e-commerce in the US and Southeast Asia is expected to develop even faster due to its high mobile penetration rate.
Download the Lazada shopping app from Google Play.
Lazada currently operates in Indonesia, Malaysia, Philippines, Thailand and Vietnam.
