Fashion, beauty and lifestyle marketplace, Thailand-headquartered Zilingo Pte. Ltd has raised $54 million (Rs 351 crore) in their C-series funding round which was led by Sofina, a Belgium-based investment firm.
India-based Sequoia Capital and German investment firm Burda Principal Investments along with SIG, Venturra, and Beenext also funded the company. Amadeus Capital became the first-time investor in the company through their investment. Manik Arora of India-based of IDG Ventures and Draper Associates founder Tim Draper from the US too have infused capital into the company.
The company’s total raised money through funding now accounts for a massive $82 million. The company statement said that they will use the fresh funding in expanding their reach internationally.
The company was founded in 2015 by Ankiti Bose and Dhruv Kapoor. Bose is the CEO while Kapoor is the CTO of the firm. Bose talking about the funding said “We think the market is showing us the right signs in terms of adoption and retention, so it is 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.”
Albert Shyy, principal at Burda said that “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 and continue to be very impressed with the company’s trajectory.”
Zilingo’s mobile app can be used by merchants to upload pictures of their products and provides them with free shipping, packaging, doorstep pickup, secure payment options, a mobile analytics dashboard and consultation on pricing strategy. Their chat support system connects both the buyers and sellers in order to have transparent discussions and conversations before they both strike a deal.
The company claims to have more than 1000 merchants who use their platform. It also claims that their growth rate in the past 1 years has been a staggering 10 times.
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