Rocket Internet confirms: €20m from Summit Partners for Asian mega-mall Lazada

mall
mall

mall

Lazada, the Samwer brothers’ Amazon clone in South East Asia, has raised €20m from US growth equity firm Summit Partners.

The announcement follows news yesterday that suggests Summit has invested a three-figure million euro sum into Rocket Internet companies over the past few months, mostly in Zalando-style companies (Dafiti, The Iconic, Lamoda, Jabong etc).

For Lazada, the new funding follows a $40m investment from Rocket Internet’s principal backer AB Kinnevik last month, and what is understood to be a double-digit million dollar sum from new major investor JP Morgan in September.

Lazada makes very few figures public but is billing itself as the “largest online department store” in South East Asia, with operations in Indonesia, Malaysia, the Philippines, Thailand and Vietnam.

The company’s next moves include an expansion of its marketplace feature, currently available in Malaysia, to the other countries it covers. This – similar to Amazon Marketplace – means opening the platform for other retailers to use to sell goods, as long as they meet Lazada’s order fulfillment criteria.

Featured image: mall in Malaysia, image credit Flickr user NeilsPhotography

FOR RELATED POSTS, CHECK OUT:

Summit Partners pours multi-million euro sum into Rocket Internet Ventures