Vietnamese B2B startup KiotViet raises $45m from KKR, Jungle Ventures
Summary
Vietnamese B2B startup KiotViet, a merchant platform for micro, small, and medium enterprises (MSMEs), has raised $45 million in a Series B funding round from global private equity powerhouse KKR, with participation from existing investor Jungle Ventures. Kasikorn Bank and family office Cao Viet My also participated in the latest funding round. “Our investment in KiotViet marks our sixth in Vietnam and is the first made through KKR’s growth technology strategy in Southeast Asia. “The addition of this new capital will only enable them to provide more services to small businesses, who as a segment are a major contributor to GDP throughout SE Asia,” said Jungle Ventures managing partner David Gowdey. KiotViet last raised about $6 million in its Series A round from Singapore-based VC firm Jungle Ventures and Indonesian unicorn Traveloka.