Singapore: Luxury fashion platform BlinQ raises $2m in seed round

Photo: Reuters

Singapore-based luxury fashion platform BlinQ has announced that it raised $2 million from a group of private investors as part of its seed round, according to an official release.

The company also announced the appointment of former Nasdaq-listed MOL Global executive Christopher Wong as CFO and ex-Accenture employee Lai Sian Peh as ‘Head of People’.

The fund raised will be used to accelerate hires and platform developments, BlinQ founder and CEO Bob Chua told DEALSTREETASIA in an interaction. He also added that BlinQ will expand next to other SE Asian markets after Singapore and Malaysia.

“We’re currently in a rapid phase of expansion, and having the right people in place will make all the difference to scaling,” he said.

BlinQ technology allows users to virtually try on and purchase designer apparel and accessories from online luxury and contemporary fashion retailers globally using AR.

Its marketplace allows for rental, subscription, and pre-loved options to its users. The back-end automated warehousing operation enables brands to fulfill their products throughout the Asia-Pacific region. Its platform is available to retailers and brand owners.

The personal luxury market is currently estimated to be $300 billion and will grow to $500 billion by 2020, with close to 44 per cent from Asia, according to McKinsey’s global fashion report.

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Fashion marketplace JOOR secures $16m in Series C funding led by Japan’s ITOCHU

Singapore-based Cento Ventures raising fashion, real estate-focused funds 

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.