E-commerce marketplace Zilingo raises $54m led by Sofina, Sequoia, others

The Zilingo team

Singapore-based fashion e-commerce company Zilingo has raised $54 million in a Series C funding round led by Belgium’s Sofina, German media giant Hubert Burda’s Burda Principal Investments and Sequoia Capital India.

The funding comes only five months after the company raised $17 million in a Series B round.

The round was joined by return backers Tim Draper, SIG, Venturra, Beenext and Manik Arora, as well as new investor Amadeus Capital.

Founded in 2015, the company has raised a total funding of $82 million in less than three years of existence, and claims to be creating an ecosystem for merchants to grow their online fashion business in Southeast Asia and beyond.

Currently, Zilingo sells in Indonesia, Thailand, Singapore and ships internationally to four more countries. It has supply bases in Singapore, Thailand & Indonesia, as well as China, Bangladesh, Vietnam & Cambodia. With over 10,000 independent merchants using the platform, Zilingo aspires to take Asian fashion to the world.

Founded by Ankiti Bose and Dhruv Kapoor, the company said it has grown 10x in revenues, launched a TV campaign in Indonesia and expanded the merchant ecosystem to include services.

It launched its B2C sites and apps in November 2015 across ASEAN to let fashion buyers buy from thousands of these merchants who used Zilingo Seller Platform at their offline or online store.

“We think the market is showing us the right signs in terms of adoption and retention, so it’s good to double down,” said Bose

Zilingo is part of the Southeast Asia e-commerce market that is getting crowded and has seen growing interest from investors around the world– mostly China — who have pumped in large amounts of capital into the e-commerce companies like Lazada, Zalora and others.

 Also Read:

Thailand: Zilingo raises $17m Series B led by Sequoia India & Burda Principal Investments

Indian edtech startup Byju’s raises $75m from Sequoia, Belgian Sofina

Fund focus: Burda seeks early mover advantage as it targets Series B crunch in SEA

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.