Hanoi, Vietnam – (COMMERCIAL THREAD) – KiotViet, a leading merchant platform for micro, small and medium enterprises (MSMEs) in Vietnam, and KKR, a global investment firm, today announced the signing of definitive agreements under in which KKR will participate as a lead investor in the US $ 45 million Series B round of financing of KiotViet (“the Company”), with participation from its existing investor, Jungle Ventures.
KiotViet aims to drive the digital transformation of MSMEs, a key segment that represents around 40% of the Vietnamese economy. The company offers a complete and affordable software solution that includes point of sale, inventory management, CRM and employee management services to more than 110,000 MSME customers. KiotViet has further expanded to offer a B2B sourcing marketplace and integrated logistics services to its merchants, and plans to leverage its platform to provide financial services solutions such as payments and loans. to customers.
Hao Tran, CEO of KiotViet, said: “Micro, small and medium enterprises play a vital role in the national economy as an engine of future growth of Vietnam. Through KiotViet’s accessible and innovative solutions, we want to help local MSMEs digitize their businesses, improve their operational efficiency and unleash their full potential. We are delighted to welcome KKR as a new investor and are confident that their vast experience, strong global network and in-depth industry expertise will prove invaluable to our company as we enter the next phase of our growth. We would also like to thank Jungle Ventures for their continued commitment to supporting our growth, as well as Kasikorn Bank and Cao Viet My for participating in this Series B round. ”
Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of South East Asia at KKR, said: “We are delighted to invest in KiotViet, an innovative company with tremendous growth potential. Our investment in KiotViet marks our sixth in Vietnam and is the first made as part of KKR’s technology growth strategy in Southeast Asia. This milestone reflects our commitment to providing high growth technology companies, including early stage ones, with long-term capital and value-added support. ”
Louis Casey, Head of Technology Growth at KKR in South East Asia, said: “KKR’s investment in KiotViet aligns with one of our core themes of supporting businesses that enable the digitization of MSMEs through software and fintech. Our investment philosophy is based on a true value-added collaboration with the founders over the long term, and we are grateful for the opportunity to work closely with the KiotViet team to support the next stages of growth of the company by leveraging KKR’s software expertise and global network. ”
David Gowdey, Managing Partner of Jungle Ventures, said: “We have worked closely with the KiotViet management team since our initial investment in 2019 and have been impressed with how the company has evolved from basic small business software to a multi-faceted platform for small businesses. Adding this new capital will only allow them to provide more services to small businesses, which as a segment are a major contributor to GDP across Southeast Asia. We are delighted to have KKR as part of this trip.
KKR invests in KiotViet from its Asian private equity fund. KiotViet is KKR’s latest growth technology investment and adds to other recent investments including Lenskart, a leading omnichannel eyewear retailer in India, Adopt A Cow, a direct-to-consumer digital dairy company in China, NetStars, the operator of the largest QR Code Payment Gateway and Walnut Programming, a children’s programming education company in China. Additional details of the transaction are not being disclosed.
KiotViet is committed to creating effective and practical products to help millions of MSMEs run their businesses easier and more efficiently. Our vision is to become the most popular technology solutions provider for Southeast Asian businesses with a focus on customer focus, quality products and service excellence. For more details, please visit www.kiotviet.vn.
KKR is a leading global investment firm providing alternative asset management, capital markets and insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined approach to investing, employing world-class people and supporting the growth of its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer pension, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.