Lapasar, a B2B wholesale-tech company based in Kuala Lumpur led by Thinesh Kumar, Lakshmandas, Dannis Raj & Noomi Fessler. With a dynamic and diverse team of 70, Lapasar has recently raised 7.5mil from NEXEA’s Angel Investors, Family Offices, and Corporate Investors such as shopper360 Limited who led the round. Other co-investors include PitchIn and individual investors.
Thinesh Kumar, Founder of Lapasar and Ben Lim, Managing Partner of Investment Firm NEXEA
“Lapasar will be using this round of fundraising to accelerate our growth for our wholesale business. We are targeting to serve 10,000 grocery stores, restaurants and hawker stalls over the next 24 months with extensive distribution capabilities by rolling out our mobile application- Lapasar-Borong. We aim to be the go-to mobile app for retailers to source and buy their FMCG goods at consistently low prices, delivered within 48 hours for free. Lapasar is also beginning to explore lines of credits with partners for the shops as a source of income which has shown early promise and will continue to expand on that as well.”
Raising RM7.5mil in Lapasar’s latest funding round, will be the fourth round of funding that they have received from NEXEA.
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 4th round of investments into Lapasar”.
Peter Wee, Mentor & Corporate Innovation Expert
Peter Wee, who has been a mentor to Lapasar shared about his mentoring experience “I have been mentoring the leaders of Lapasar for the past 4 years now, and that was early on in their operations and growth. I must say it has been very enriching and satisfying to be able to see the company grow tremendously, and more importantly the leaders of the company to grow in their role as stewards of the company. I have been mentoring them on the business and leadership aspects. Of course as Mentor and Coach my role is also that of a ‘Connector’, that is to link them to the business community and create opportunities for them”.
Where do the mentors see Lapasar headed? “Looking at their growth trajectory hitherto, I am very confident they will grow very quickly to be a Malaysian unicorn in a handful of years. The team is cohesive and the workforce is young, energetic and hungry to achieve more. The team is a complementary team and takes their responsibilities seriously. They see the big picture and want to make a real difference to the people whom they serve and the people who work with them. So, that mindset is a great quality. Plenty of drive and determination and willingness to learn and improve themselves too”, shared Peter.
“We joined NEXEA VC, accelerator and venture builder in 2017, specifically the accelerator program, which to me, was the first step towards making my startup a real company. During the 3 months accelerator program, the Mentors really gave us a taste of what continuous improvement and growth meant.
Investors within the NEXEA network also opened up large corporate doors for Lapasar. Peter hooked us up to TNB and PwC who are some of our largest clients now. In a nutshell, NEXEA provided us with mentorship, the push we needed and the right contacts to expand our business.” says Thinesh Kumar about his experience with the Accelerator Programme.