Tiki

Tiki is a Vietnamese e-commerce company operating an online retail and marketplace platform serving consumers in Vietnam. The company was founded by Son Tran, who has described the ambition of making Tiki a place where Vietnamese people can find every product or service that they need.

Beyond product sales, Tiki has expanded the range of services offered on its platform. In July 2021 it signed a 10-year agreement with AIA Vietnam under which AIA became Tiki's exclusive insurance partner, enabling customers to purchase insurance and manage their accounts and claims through Tiki's technology platform beginning in December 2021.

Business model

Tiki operates an online marketplace in Vietnam through which consumers buy products, and it has extended into distributing third-party services on the platform, such as insurance policies sold under an exclusive partnership with AIA Vietnam, including account and claims management within the platform.

Traction

The Series E round announced in November 2021 valued Tiki at close to US$1 billion, though its monthly web traffic and app rankings remained behind those of Shopee and Lazada.

Latest developments

In November 2021 Tiki raised US$258 million in a Series E round led by insurer AIA, which accounted for US$60 million of the total, with participation from Taiwan Mobile, Mirae Asset-Naver Asia Growth Fund, STIC Investments and Yuanta Fund; the round valued the company at almost US$1 billion. Taiwan Mobile had previously invested US$20 million earlier in 2021. Around the same time, Bloomberg reported that Tiki was weighing a US listing in 2022 via a special purpose acquisition company.