Lapasar raises RM7.5 mln in funding round via investor Nexea

KUCHING: Lapasar, a B2B wholesale-tech company, has recently raised RM7.5 million from Nexea’s angel investors, family offices, and corporate investors such as shopper360 Ltd who led the round.

Based in Kuala Lumpur, other co-investors for this round of funding include PitchIn and individual investors.

Nexea is an early-stage venture capital firm supporting and funding high growth tech Startups in Malaysia and Southeast Asia.

They bring angel investors, family offices and corporate investors to strong Startups to support them in becoming potential unicorns.

Ben Lim, managing partner at venture capital firm Nexea shared: “Lapasar has been a very strong team in a huge market from day one.

“Nexea and our investors are very confident in their execution capabilities, hence our fourthh round of investments into Lapasar.

“Lapasar started entering the FMCG wholesale market only in June 2020 which has helped the company grow 172 per cent y-o-y and above 100 times since their first funding round.

“Their growth has been unaffected by the pandemic and they see a lot more growth in the future given they have only begun to set a small footprint in their huge target market.”

Lapasar has ambitions to become the largest wholesale platform in the country by 2025 targeting above RM2 billion revenues and the largest distribution and financial services capabilities for retailers in the country.

With regards to how Nexea has been more than just an investor, founder and chief executive officer Thinesh Kumar said: “Nexea has been on our journey since day one. “Funding us the first RM50,000 via the Watchtower and Friends/ NEXEA Accelerator when we were merely an idea to give us clients and follow on funding. The mentors are people who have gone through the grind so when times are tough, speaking to them calms our nerves and allows us to focus on objectivedriven solutions.