According to Bloomberg, Tiki has raised $258 million in a funding round led by AIA. The platform is planning to jump into the life insurance business and organize an IPO (initial public offering) in the US.

In addition to AIA, Series E investors include UBS AG (London branch), Mirae Asset-Naver Asia Growth Fund, and Taiwanese carrier Taiwan Mobile Co.

Tran Ngoc Thai Son, CEO of Tiki, told Bloomberg that this new funding brings the company's valuation to nearly 1 billion USD. He added that the investment shows the confidence of the global capital market in the growth and potential of Vietnam.

Tiki originally planned to have an IPO in the US in 2025, but the plan can be implemented sooner. According to Son, the IPO could be made through a merger with a blank-check company, although this is uncertain.

The successful listing of a major Vietnamese startup like Tiki in the US could help pave the way for foreign investment in Vietnam's nascent tech sector.

The Tiki CEO said that the firm would take advantage of the new capital to accelerate investments in logistics - including artificial intelligence and robotics for inventory management - orders and deliveries. The platform also plans to offer easy-to-purchase customized life insurance products.

Besides the current business areas, Tiki will participate in more segments in the future. “We focus on the domestic market and aim to account for 1%, 2%, 3% of Vietnam's GDP,” Son told Bloomberg.

Hai Dang

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