Loship, the Vietnamese on-demand e-commerce platform that started as a reviews app, announced today it has raised $12 million in pre-Series C funding, bringing its valuation to $100 million. The round was co-led by BAce Capital, an Ant Group-backed venture firm, and the direct investment unit of Sun Hung Kai & Co Limited.
Founded in 2017, Loship offered one-hour deliveries for a large range of products and services, including food, ride-hailing, medicine and B2B supplies. The company says it has more than 70,000 drivers and 200,000 merchants, and serves about 2 million customers in Hanoi, Ho Chi Minh City, Da Nang, Can Tho and Bien Hoa.
The new round