JD.com, Provident Capital lead $19m Series B funding in Thai fashion retailer Pomelo

Photo: Pomelo website

Thai online fashion retailer Pomelo has bagged an additional $19 million in a Series B funding round led by Chinese e-commerce firm JD.com and Provident Capital Partners. The round was joined by Lombard Investments.

The funding is likely to step up competition between e-commerce bigwigs like Alibaba and JD.com for the coveted online shopping market in Southeast Asia, a region with over 600 million people, a growing middle class and an e-commerce sector with sales projected to grow to $88 billion by 2025.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter