Lazada, arguably one of the biggest online retailers in Southeast Asia, just celebrated its first year anniversary with a bang. Joining existing investors Holtzbrinck Ventures, Kinnevik, Summit Partners and Tengelmann Group, Verlinvest, a Belgian holding company, invests an additional $100M into the website’s parent company in Germany.
After only a year since its introduction, Lazada just surpassed 1M online orders. This is where Verlinvest Chairman Frédéric de Mevius gets his confidence in the venture. According to him, “we are thrilled to join Lazada as a partner of Rocket Internet and an investor, the company’s scale and achievements after only one year of operations are highly impressive. Given the management’s track record and the region’s macro outlook we are very confident in Lazada’s future.”
A large chunk of the Verlinvest funding will be used to further improve delivery time and customer satisfaction with the company. To accomplish this, Lazada will be investing in its IT infrastructure in the foreseeable future. Complementing this strategy is the company’s announcement of its new mobile application to provide its customers a fast and intuitive shopping experience even on-the-go. Already available in Android and coming soon in iOS, the app uses an advanced internal search engine to allow users to explore products by categories, brands, price and more. Using the app, customers are able to discover amazing deals and discount vouchers to use, not to mention exclusive updates on special promos and offerings.
For Android phone users, you may download the app from the Google Play Store here.