Tiki raises $240 million

Vietnam’s ecommerce platform Tiki has closed a $240 million Series E round led by AIA. The insurer contributed $60 million and was joined by additional investors including UBS, South Korean investment manager Mirae Asset, Korea private equity firm STIC Investments and Taiwan Mobile.

Founded in 2010, Tiki started its journey by selling books online and it later expanded into other categories along with offering a marketplace for third-party sellers.

In July, AIA and Tiki signed a 10-year agreement in which AIA Vietnam becomes Tiki’s exclusive insurance partner for life and health products. Currently, Tiki visitors can find insurance products by FWD Group.

In May, bolttech and Tiki announced a partnership to offer device protection plans.