BAce Capital-backed Loship, Vietnam’s leading one-hour delivery e-commerce startup, targets to become the first Vietnamese delivery to list on the New York Stock Exchange by 2024.
|Loship has been thriving amid the COVID-19 pandemic |
Earlier this month, Loship, confirmed its $12 million pre-series C funding round co-led by BAce Capital, an Ant Group-backed venture capital firm, and Sun Hung Kai & Co., Ltd., a leading alternative investment company listed in Hong Kong, China.
Other investors participating in the round include MetaPlanet Holdings, Wealth Well, Prism Ventures, and SQ Capital Group, along with a plethora of individual investors.
Amid the pandemic-led downturn, Loship has shown resilience and come out stronger from the crisis. The round comes on the heels of Loship’s undisclosed bridge funding round in February 2021 led by Skype co-founder backed MetaPlanet Holdings.
Trung Hoang Nguyen, co-founder cum CEO of Loship, told VIR, “The initial public offering (IPO) is one of the key milestones we want to achieve in the next three years. We hope to debut on the New York Stock Exchange by 2024, after reaching profitability. A successful IPO will fuel our future growth, create an exit option for investors, and help employees to realise their employee stock ownership plan."
“As a young Vietnamese entrepreneur, I dare to dream big. Funding rounds shouldn’t be the sole goal of startups – we need to aim at exit strategies to further increase our value,” he added.