Vietnamese internet group VNG Corp. is the other lead investor in this round.
The closing of the Series C round is subject to conditions. Upon completion, JD.com will become one of the largest shareholders at Tiki.
JD will partner with Tiki in a range of areas, including merchandising, cross-border trade, logistics and fulfilment, technology, financing, and operational capabilities. Tiki and JD will co-operate to deliver a wider authentic selection from global brands to consumers, while helping Vietnamese local brands in expanding internationally via JD’s global platform.
With this investment, JD adds Vietnam to its growing presence in Southeast Asia; it is already running an e-commerce platform in Indonesia and has a partnership with Central Group in Thailand.
Winston Cheng, President of International at JD said: “With JD’s expertise in leveraging social media for e-commerce, Tiki’s partnership with VNG in social network and mobile payments is a natural fit as we aim to provide differentiated services to suppliers and consumers in Vietnam.”
Tiki was founded in 2010 and initially sold e-books, but it has since diversified to become an all-encompassing marketplace, selling goods such as toys, digital devices, lifestyle and beauty products. Last year, Tiki and insurance company FWD Life Insurance also inked a deal to sell personal accident insurance policies on the e-commerce platform. FWD and Tiki offered 100,000 customers free online insurance products to kick start the partnership.