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The Singapore-based fashion market, Zilingo, has raised $ 226 million during a round of D series round table, the group said in a statement released on Tuesday.
Existing investors Sequoia Capital, Burda Principal Investments and Sofina, as well as new investors Temasek Holdings and EDBI, joined the series. Zilingo is estimated at nearly $ 1 billion, according to people familiar with development.
This new capital will be used to finance the expansion of the company in the Philippines, Indonesia and Australia, as well as to invest in the infrastructure and technology needed to integrate and digitize its fashion and logistics supply chain. of beauty.
AT DEALSTREETASIAIn Indonesia, the PE-VC Summit 2019 in January 2019, the co-founder and CEO of Zilingo, Ankiti Bose, also declared that the venturing into offline retail in the next 12 months and that an IPO is a "logical path" for her.
Last April, Zilingo convened a series of $ 54 million Series C negotiations, largely with existing investors Sofina, Burda Principal Investments and Sequoia Capital India. The round was joined by backers Tim Draper, SIG, Venturra, Beenext and Manik Arora, as well as new investor Amadeus Capital.
The last round of Series D brought the total funds raised by Zilingo to $ 308 million.
"Sequoia's investment in Zilingo goes back to a time when the company was not yet incorporated and its name was not finalized. Ankiti and his team quickly transformed their original Zilingo ideas into a platform company serving consumers, merchants, retailers, brands and fashion manufacturers, collectively representing a multi-billion dollar market. " , said Sequoia Capital General Manager (India) Shailendra, Singapore Singh
Ankiti Bose, a former badyst with McKinsey & Co and Sequoia Capital India, founded Zilingo in Bangkok in May 2015, alongside Dhruv Kapoor, who is also responsible for startup technology. The startup started out as a vendor management platform to provide an online presence to small merchants offline.
It now serves more than 20,000 merchants and retailers in the B2B and B2C segments of Southeast Asia, more than half of Zilingo's B2B business. In April, the startup launched Zilingo Asia Mall (ZAM), an extension of its B2B segment in the United States and Europe.
Bose had said that the start-up could turn to establish its own branch of financial services to offer services such as loans and payments to its merchants.
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The Zilingo fashion market is optimistic about the fintech game
Zilingo very likely to engage in offline retail in the next 12 months
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