Vietnam’s Tiki Raises $258 Million as It Plans U.S. IPO

Vietnam’s Tiki raised $258 million in a funding round led by AIA Insurance Inc. as the e-commerce startup looks to expand into life insurance and plans a U.S. initial public offering.

Investors involved in the Series E round also included UBS AG London Branch, Mirae Asset-Naver Asia Growth Fund and Taiwan Mobile Co., and existing backer STIC GIGF Ltd., Tiki founder and Chief Executive Officer Tran Ngoc Thai Son said in an interview. The new funding brings the company’s valuation to close to $1 billion, he said.

“This shows the belief of the global capital markets in Vietnam’s growth ...