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Lozi, a fast-growing Vietnamese one-hour e-commerce start-up, owner of Loship App, has secured a bridging finance round led by Vulpes Investment Management, a Singapore based investment group that invests globally. This new funding will contribute to the latest growth trend of Lozi, the Business for Business (B2B) offering for small businesses.
The Round was joined by DAAL Ventures, a Saudi Arabian venture capital firm; Wealth Well, a leading global investment company based in Saudi Arabia; Moje Akhbari, former Vice President of Starbucks as sole investor and advisor to the Board; and other global investors, including Eucagi Ventures (a Nigerian venture capital firm) and KI Group.
Lozi was founded in 2013. Originally, Lozi was an application for people looking for food, drink and coffee, and was mainly aimed at Generation Z and early millennium users. In 2015 it was transformed into a C2C e-commerce social network and at the end of 2017 into a downtown services platform called Loship.
Cheung Hoang Nguyen, CEO of Loship
Cheung Hoang Nguyen, CEO of LoshipCheung Hoang Nguyen, young founder and CEO of Lozi, announced that this round of financing coincides with the rapid growth of our supply activities throughout Vietnam, as COVID-19 has encouraged more and more F&B companies to go online. In the future, we will use these resources to further develop our fast-growing B2B businesses while maintaining our commitment to becoming the leading e-commerce company in Vietnam for fast and efficient one-hour delivery, said Mr Trung.
We see Vietnam as the most exciting market in Southeast Asia in the coming years, says Field Pickering, Head of Vulnerable Sector Investment Management. And we couldn’t think of a better way to play a role in Vietnam’s growth than to invest in the country’s most innovative logistics company, which makes over 100,000 deliveries a day and is run by an incredibly young commercial and entrepreneurial team.
Commenting on the growth of the Vietnamese economy, Aqil Alraji, CEO of Wealth Well, said that the Vietnamese economy continues to grow, mainly due to local domestic demand and the involvement of global players in locating their supply chains. The horse records this growth story on a large scale. Loss is not just an application, but an entire ecosystem designed to provide fast and diverse logistics solutions in a practical way.
said Mohe Akhbari, Lozi’s investor and advisor: Cheung does the right thing, at the right time, with the best people By focusing on the growing endless possibilities for local Vietnamese SMEs and companies to offer their services and products to consumers, Loship has been able to be highly relevant to Vietnam’s technological progress and continue to serve its customers in an innovative, efficient and timely manner. Cheung and his team focus on customer service, quality products and service with the speed that the best innovations and technologies are integrated to make daily tasks easier and more convenient for Vietnamese customers. The horse is in a good position to do good by doing good.
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