Lazada, the online retailer for Southeast Asia, received €20 million in its German holding company from growth equity investor Summit Partners. The company will use funds to further its growth.
Summit Partners (one of the world’s most successful venture capital firms) joins to the already distinguished group of Lazada investors, next to among others Rocket Internet, Kinnevik and JP Morgan.
LAZADA, Southeast Asia’s largest online department store, today announced that it has received an investment of €20 million in its German holding company from leading growth equity investor Summit Partners (“Summit”). LAZADA will use the funds to continue developing its growth initiatives and expanding its product offering.
“We are very proud to have an investor of Summit’s calibre joining our shareholder base. They have extensive experience in supporting fast-growing companies which will be of huge benefit as we continue to build out our offering and services to win the Southeast Asian market,” commented Maximilian Bittner, Regional CEO. Scott Collins, a Managing Director and head of the Summit Partners London office, added “We seek to invest in companies that build long-term value, and LAZADA has shown dynamic growth in a short period of time. We are thrilled to be part of the LAZADA story.”
LAZADA recently launched its new marketplace platform in Malaysia on November 21st. The company has entered the country’s promising fashion market by offering more than one-thousand clothing and shoe products through this platform. According to Mr. Bittner, the marketplace offers an attractive opportunity for offline retailers in the region to leverage LAZADA’s broad reach and extensive marketing expertise to drive additional sales while still controlling logistics and operations. LAZADA plans to roll-out the marketplace platform in all its markets in the near future and continue to add partners to complete its product assortment and drive growth.
About LAZADA Indonesia
Lazada Indonesia (www.lazada.co.id) is an Online Shopping website that committed to offering the highest quality products with a wide selection of products and brands comprehensive in Indonesia. With the hospitality given by Lazada service team, we want to make sure customers get the shopping experience easy and fun. by offering a fast and free delivery. Lazada Indonesia offering product by the category such as Computer & Laptops, Handphone & Tablet, Camera, Home Appliances, Health & Beauty, Toys & Baby, Bag, Books & Music Equipment, Fashion & Acessoris.
About Summit Partners
Summit Partners (www.summitpartners.com) is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 350 companies globally in the technology, healthcare and other growth industries. These companies have completed more than 125 public offerings, and in excess of 130 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, London and Mumbai.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.