On September 1, KiotViet and KKR introduced the signing of a cooperation settlement. Accordingly, KKR participated as the primary investor, pouring 45 million USD into KiotViet. The funding additionally contains Jungle Ventures as an inbound investor.
That is KKR’s sixth capital injection into Vietnam. Beforehand, KKR had poured lots of of hundreds of thousands of {dollars} into EQuest, Masan Nutri Science (now Masan MEATLife) and Vinhomes.
KiotViet is a commerce platform for micro, small and medium enterprises (MSMEs) in Vietnam. The corporate additionally gives inexpensive, all-inclusive software program options together with point-of-sale companies, stock administration, CRM, and worker administration to greater than 110,000 clients.
KiotViet goals to speed up the digital transformation of MSMEs, a phase that accounts for 40% of Vietnam’s economic system.
KiotViet has now expanded its service providing to B2B clients, built-in logistics companies for retailers, and plans to make use of its platform to supply monetary service options comparable to fee and Loans to clients.
Earlier than the participation of KKR, KiotViet has welcomed buyers comparable to Jungle Ventures Enterprise Fund, CVM Firm, Kasikorn Financial institution (Thailand).
KiotViet is a product of Citigo Software program Joint Inventory Firm, established in 2010 in Hanoi. In an interview with Younger Intellectuals, an organization consultant mentioned that though many enterprise strains had been affected by the Covid-19 pandemic in 2020, KiotViet nonetheless grew by about 70% in comparison with the earlier yr.
