Fashion startup Zilingo raises $226 million from Singapore's Temasek, others

14 Février, 2019, 10:54 | Auteur: Auguste Feret
  • Zilingo co-founder and CEO Ankiti Bose said that the company is pretty close to profitability

Fashion and beauty e-commerce marketplace Zilingo has raised massive $226 million in its latest Series D round of funding from Singapore's Temasek Holdings, EDBI - the corporate investment arm of Singapore's Economic Development Board.

"Sequoia's investment in Zilingo dates back to when the company wasn't even yet incorporated and the name wasn't finalised". "Ankiti was a terrific member of the analyst class at Sequoia India before starting Zilingo-she was razor sharp, hard working and always switched on.it's been fantastic to witness her transformation into a bold and dynamic founder and business leader", said Shailendra Singh, MD of Sequoia Capital India, which seed-funded the company back in 2015.

Zilingo, a Singapore-based fashion and lifestyle ecommerce startup, raised $226m in Series D funding. The company soon developed its own proprietary suite of tools that enable fashion merchants to access manufacturers across Asia and unlocks the best procurement rates, optimised logistics services, financial services, insurances, loans and analytics for them.

Zilingo is powered through Bangalore where its co-founder, Dhruv Kapoor, leads a team of 100 people. In the fashion industry, core supply-chain inefficiencies hinder small and medium merchants from unlocking their full potential as compared to the big brands.

Started as a fashion marketplace, Zilingo allows smaller merchants from Southeast Asia without an online presence to list their items for sale direct to consumers. However, the B2B model is lot different from what other platforms have to offer.

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The company plans to invest the capital for long-term value building across the supply chain and expansion into new markets. That makes 27-year-old Bose among the youngest female chief executives to head a startup as a maturing trade in Asia.

Listings are provided for free with the company charging a commission of between 10 per cent and 20 per cent on orders, helping drive a fourfold increase in revenue in the past 12 months.

As the founders dealt with thousands of small sellers, they also realised that many of them were left behind with access to technology, capital and economies of scale.

Ziling whose main market for the consumer business in Indonesia is now looking to expand in Australia by the end of 2019.

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