Masan Group Corporation has reportedly raised a primary investment of USD 350 million in The CrownX Corporation, through an association of investors including Platinum Orchid, a fully-owned subsidiary of ADIA (Abu Dhabi Investment Authority), SeaTown Master Fund, and TPG.
The funding marks the final raising of capital at the TCX ecosystem which has garnered more than USD 1.5 billion in investment from flagship global investors since its inception.
The transaction implies around USD 8.2 billion of post-money valuation for 100% equity of TCX which is an equivalent of USD 105 per share. This represents a valuation uplift of 12% versus the previous funding round. Once the deal is executed, Masan will own nearly 81.4% of The CrownX, which plans to use the proceeds from the funding to conduct a share buyback and invest in growth ventures.
The mini-mall concept is a distinct integrated format, either online or offline, that offers a wide array of essential, daily products and services. This provides The CrownX with a cost-effective model to hold the share of the consumer wallet across numerous consumer use cases.
Meanwhile, the next breakthrough will be the development of fintech solutions including BNPL (buy now pay later) products for the mass market, underserved consumers by using its loyalty platform.
According to Mr. Danny Le, the CEO of Masan Group, the collaboration with SeaTown, ADIA, and TPG is a confirmation of the company’s ability to realize its Point of Life vision. Mr. Le added that this ends The CrownX’s activities of capital raising as the company shifts its complete focus on upscaling the Point of Life platform, both online and offline, across the nation.
Masan Group Corporation aims at offering better products and services to nearly 100 million people in Vietnam by driving technological innovations and productivity.
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