KiotViet, a leading provider of business management software for small and medium-sized enterprises (SMEs) in Vietnam, has received a $6 million investment from global investment firm KKR. This investment is part of KiotViet’s Series B funding round, also known as the SMBs 45M series, which aims to raise $45 million in total.
KiotViet was founded in 2014 and has since grown to serve over 70,000 SMEs across Vietnam, Thailand, and the Philippines. Its cloud-based software solutions help SMEs manage their operations, including inventory, sales, customer relationships, and financials. With its user-friendly interface and affordable pricing, KiotViet has become a popular choice among SMEs in Southeast Asia.
KKR’s investment in KiotViet is a significant vote of confidence in the company’s growth potential. KKR is a leading global investment firm with over $200 billion in assets under management. Its investment in KiotViet is part of its strategy to back high-growth companies in Asia Pacific that have the potential to become market leaders.
According to Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, “We are excited to partner with KiotViet as it continues to expand its market-leading position in Vietnam and beyond. The company’s mission to help SMEs grow by providing them with easy-to-use, affordable software solutions is aligned with KKR’s focus on supporting businesses that drive positive change in society.”
KiotViet plans to use the funding to accelerate its growth in Vietnam and expand into new markets in Southeast Asia. The company aims to increase its customer base to 1 million SMEs by 2025 and become the leading provider of business management software for SMEs in the region.
“We are thrilled to have KKR as our partner as we embark on the next phase of our growth journey,” said Nguyen Van Dung, CEO and co-founder of KiotViet. “Their deep expertise in technology and strong track record of supporting high-growth companies will be invaluable as we continue to innovate and expand our offerings to serve the needs of SMEs in Southeast Asia.”
The COVID-19 pandemic has highlighted the importance of digital transformation for SMEs, as many have had to pivot to online sales and adopt new digital tools to stay afloat. KiotViet’s cloud-based software solutions have been essential for many SMEs in navigating this challenging period, and the company’s growth is expected to accelerate as more SMEs embrace digitalization.
In conclusion, KiotViet’s $6 million investment from KKR is a significant milestone for the company and a testament to its growth potential. With KKR’s support, KiotViet is well-positioned to continue its expansion in Vietnam and become the leading provider of business management software for SMEs in Southeast Asia. As more SMEs turn to digital tools to stay competitive in the post-pandemic era, KiotViet’s user-friendly and affordable software solutions are likely to be in high demand.
