Vietnamese startup KiotViet, which provides cloud-based POS software for SMBs, raises $45M Series B led by KKR, after raising a $6M Series A in 2019 (Quynh Nguyen/DealStreetAsia)

Vietnamese startup KiotViet, which provides cloud-based POS software for SMBs, raises $45M Series B led by KKR, after raising a $6M Series A in 2019 — Vietnamese B2B startup KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs), has raised $45 million.

It has been announced that the Vietnamese B2B startup KiotViet has raised $45 million from KKR and Jungle Ventures.

KKR, a global private equity powerhouse that invests primarily in the middle market, has announced the completion of a $45 million Series B funding round for Vietnamese B2B startup KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs). Jungle Ventures has also contributed to the round.

Cao Viet My, the family office of Cao Viet My, and Kasikorn Bank also participated in the recent funding round.

vietnaazmese kiotviet smbs series kkr 6m
vietnaazmese kiotviet smbs series kkr 6m

KKR, a global private equity powerhouse that invests primarily in the middle market, has announced the completion of a $45 million Series B funding round for Vietnamese B2B startup KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs). Jungle Ventures has also contributed to the round.

Cao Viet My, the family office of Cao Viet My, and Kasikorn Bank also participated in the recent funding round.

As part of its Asian private equity fund, KKR has invested in KiotViet as part of its investment program.

We are excited to announce our sixth investment in Vietnam as well as the first investment in Southeast Asia as part of KKR’s growth technology strategy. The achievement of this milestone will serve as a reminder of our commitment to providing long-term capital and value-added support to high-growth technology companies – including those at an early stage – through our Asia Pacific Private Equity and Southeast Asia regions,” said Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR.

In Asia, KKR has made a number of recent investments, including the Indian eyewear retailer Lenskart, the Chinese DTC dairy firm Adopt A Cow, the Japanese QR code payment gateway NetStars, as well as the Chinese edtech firm Walnut Programming.

A recent investment by KKR was made in Equest Education Group, a Vietnamese provider of education services, in order to fund its expansion plans. As part of this deal, KKR also led a $650 million round of financing for Vinhomes and a $359 million round of financing for Masan MEATLife (formerly known as Masan Nutri-Science), the animal feed producer.

As a cloud-based POS solution provider for Vietnamese small and medium sized businesses, KiotViet was founded in 2014. In addition to offering inventory management, cash flow management, and marketing solutions, it also offers omnichannel business and management software solutions.

The company claims that it currently serves over 110,000 MSME customers and that number is growing rapidly.

In recent years, the company has expanded its offerings to include a B2B procurement marketplace and integrated logistics services for its merchants. It also plans to leverage its platform in order to provide customers with a range of financial services solutions such as payment and lending.

The addition of this new capital will make it possible for them to offer a greater range of services to small businesses, which are a significant contributor to the GDP of Southeast Asia as a whole, according to Jungle Ventures managing partner David Gowdey.

Earlier this year, KiotViet was backed by Singapore-based VC firm Jungle Ventures as well as Indonesian unicorn Traveloka for about $6 million in its Series A funding round.

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