Vietnamese startup Lozi has raised an 8-digit funding round to support the company's expansion across the country.

Lozi aims to become the one-stop solution for Vietnamese consumers’ one-hour delivery needs.

Established in 2013, Lozi was originally an app for people to find food, beverages, and coffee shops — primarily targeting Generation Z and millennial users.

In 2015, Lozi transformed into a social C2C e-commerce network, serving 2 million users.

The company aims to provide 20 services on its platform while planning to launch a new feature called Lo-xe to enter Vietnam’s competitive ride-hailing market.

“The startup aims to become the fastest-growing intracity e-commerce platform in Vietnam, and the new funding will give a boost to its focus on one-hour delivery services.”, mentioned Trung Nguyen, CEO and co-founder of Lozi.