Lazada, the Asian Amazon clone operating in five countries across Southeast Asia, has announced that it has raised ‘an eight digit Euro investment’ from Tengelmann, a German retail group. The speculation is that they raised around $20 million.
Tengelmann is one of the investors that has backed a number of Rocket Internet projects, including Linio, Jumia and others as its portfolio page indicates. This is the fourth investment that Lazada has announced, which, regardless of the fact that it is backed by ‘clone-factory’ Rocket Internet, is pretty impressive considering that it was only launched in March 2012.
- Lazada
- Amazon
- Funding