May 11

Malaysian B2B E-Wholesaler Lapasar Lands US $1.8 Million in Funding

Shagun Karki

Lapasar, an online B2B wholesale procurement startup in Malaysia, has announced that it has raised RM7.5 million (US$1.8 million) in a funding round led by startup accelerator-cum-investment firm NEXEA and shopper360 limited.

Malaysian equity crowdfunding platform pitchIN, besides other undisclosed individuals, also participated.

According to Lapasar founder and CEO Thinesh Kumar, “The funding will be used to accelerate growth for our wholesale business. We are targeting to serve 10,000 grocery stores, restaurants and hawker stalls over the next 24 months with extensive distribution capabilities by rolling out our mobile app Lapasar-Borong.”

Photo courtesy of Photo courtesy Maria Fleischmann / World Bank Photo Collection.

Source: e27 (link opens in a new window)