Zilingo se­cures $54m in Se­ries C fund­ing

Singapore Business Review - - STARTUPS -

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.

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