E-commerce Service Provider Lazbao Completes New Round of Financing

Consumer Discretionary Author: Yifei Liu Aug 17, 2022 06:09 PM (GMT+8)

The funding will be mainly used for new market expansion, infrastructure construction and service system optimization.

Pharmaceutical e-commerce

Lazbao (Chinese: 来赞宝), a comprehensive e-commerce service provider in Southeast Asia, recently completed a financing round of tens of millions of USD. This is the company's second round of financing within one year. 

Founded in 2019, Lazbao is a one-stop integrated e-commerce service provider in Southeast Asia and has entered Thailand, Vietnam, Indonesia, Philippines and Malaysia markets. It is also the official partner service provider of several Southeast Asian e-commerce platforms.

Data shows that the Southeast Asian e-commerce market is still developing at a quick pace. E-commerce transaction volume in Southeast Asia has reached USD 120 billion in 2021 and is expected to grow to USD 234 billion by 2025, with a compound annual growth rate of 18%. With the development of Southeast Asia's digital economy and the RCEP taking effect, China-Southeast Asia cross-border e-commerce cooperation is developing expansively.

Lazbao plans to open China-Philippines and other Southeast Asian countries' eight routes through cooperation with various parties. Its warehousing area in Thailand and Indonesia is more than 10,000 square meters. Lazbao integrates the supplier and commodity library resources of 1688 and other platforms and has been cooperating with some industrial belts.

The company's competitors include Weimob (Chinese: 微盟), Dianxiaomi (Chinese: 店小秘), etc.