Lazada, ‘Southeast Asia’s Amazon,’ Raises $100M

The funding was provided by former donors such as Holtzbrinck Ventures, Kinnevik Investment AB, Summit Partners and Tengelmann GroupFormer donors such as Holtzbrinck Ventures, Kinnevik Investment AB, Summit Partners and Tengelmann Group provided the funding. Verlinvest, a Belgium-based holding company, was the lone new investor.

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The funding cements Lazada’s current round as its largest to date, and pushes its total fundraising funding past $230 million. Despite the strong numbers, some observers cast doubt on whether German startup incubator Rocket Internet, which founded the website, can win over the region’s shoppers, of which only a small percentage buy online.

For more analysis, read the full report from Yahoo here.