Zilingo secures $54m in Series C funding
Fashion e-commerce platform Zilingo scored a whopping $54m Series C funding in a bid to expand operations internationally. The latest grant raises the company’s total funding to about $82m. The funding will be used to expand Zilingo’s operations in Indonesia and explore the possibility of later launching in the Philippines.
The funding round was lead by leading investors Sofina, Burda Principal Investments, Sequoia Capital India, and new kid on the block Amadeus Capital. “We think the market is showing us the right signs in terms of adoption and retention, so it’s good to double down,” says Zilingo co-founder Ankiti Bose.
“We are grateful to all the investors for continuously showing great faith in our team and our vision for fashion commerce in this region.”
The investment grant couldn’t come at a better time, with the $54m Series C funding coming just five months after Zilingo nabbed a $17m Series B funding.
The company currently hosts 10,000 independent merchants who are selling in Indonesia, Thailand, and Singapore. Zilingo also ships internationally to four more countries and has supply bases in its home countries as well as China, Bangladesh, Vietnam, and Cambodia.
Founders Bose and Dhruv Kapoor wanted to create a way to make it easier for products to reach fashion lovers across Asia, giving birth to Zilingo in October 2015. “Nowhere in the world has a horizontal e-commerce company also cracked fashion. It’s a unique, high margin category, which is highly dependent on fast-moving cycles and has its own nuances,” says Bose. Three years later, Zilingo grew 10 times in operations and in revenue.