Zilingo raises US$54 Million in Series C Round
By Digital News Asia April 5, 2018
- Zilingo raises funds totalling US$82 million with the latest round
- Existing investors confident and continue to show support
Zilingo's co-founders Ankiti Bose and Dhruv Kapoor
Fashion, beauty and lifestyle marketplace Zilingo has raised US$ 54 Million - in a Series C, to grow further and expand internationally. This takes total funding raised by the company to US$ 82 Million.
The round was led by Sofina, Burda Principal Investments and Sequoia Capital India. Amadeus Capital too joins as a new investor. All existing investors participated in the round including American billionaire Tim Draper, SIG, Venturra, Beenext, Manik Arora along with others. This round comes close on the heels of Zilingo’s US$ 17 Million Series B raised in Dec 2017.
Zilingo founder and chief executive officer Ankiti Bose said, “We think the market is showing us the right signs in terms of adoption and retention, so it’s good to double down. We are grateful to all the investors for continuously showing great faith in our team and our vision for fashion commerce in this region.”
Sequoia (India) Singapore managing director Shailendra Singh said, “The Zilingo investment is special for Sequoia because our association started with a seed investment even before the Zilingo service was first launched. This new round was finalized weeks after the last one and is a ringing endorsement of how much potential the investor group sees in the company. We’re glad to have invested significantly across all rounds the company has raised.”
Meanwhile Burda principal Albert Shyy said, "Zilingo is creating a complete ecosystem for merchants to grow their online fashion business in Southeast Asia and beyond - we believe there is an untapped opportunity across the entire Asian fashion value chain & continue to be very impressed with the company's trajectory."
Founded in 2015, Zilingo was built with the objective to connect a highly fragmented landscape of fashion supply to fashion lovers across Asia. The proprietary seller platform allows merchants upload and manage their inventory in any language, use any currency while connecting them through 25 APIs with logistics, warehousing and payment providers.
Zilingo launched its Business-to-Consumer (B2C) site and app in Nov 2015 across ASEAN to let fashion buyers buy from thousands of merchants that use Zilingo as their seller platform. The company then launched its B2B business with AsiaMall that connects merchants from around the wolrd to buy wholesale from Asian suppliers.
Today, Zilingo sells in three markets: Indonesia, Thailand and Singapore while shipping internationally to four other countries. A total of 10,000 independent merchants use the platform to sell to millions of customers from around Asia and the world.
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