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Sequoia helps Korea’s Coupang raise $100m

30 May 2014

koreaKorean e-commerce startup Coupang has secured $100m in a funding round led by venture capital firm Sequoia Capital.

The round, which valued the business at more than $1bn, brought its fundraising total to $160m.

Coupang CEO Bom Kim said the funds will help the company “go even further in our quest to differentiate the end-to-end experience for our customers.”

He also noted that most purchases are made via mobile and can be delivered same-day or next-day.

Sequoia chairman Michael Moritz said, “Coupang is the leading online retailer in South Korea – one of the most attractive e-commerce markets in the world.”

The US-based firm has just held a final close of $530m for its fourth Indian fund.

The new fund will target technology, consumer and healthcare businesses in the country, and will also consider opportunities in South East Asia.

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