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Zilingo raises USD54 million in Series C funding round

Zilingo has raised USD54 million in a Series C funding round taking total funding raised by the company to USD82 million. The round was led by Sofina, Burda Principal Investments and Sequoia Capital India. Amadeus Capital too joins as a new investor.

All existing investors participated in the round including American billionaire Tim Draper, SIG, Venturra, Beenext, Manik Arora along with others. This round comes close on the heels of Zilingo’s USD17 million Series B raised 5 months ago.
 
Founded by Ankiti Bose and Dhruv Kapoor in October 2015, Zilingo was built to connect a highly fragmented landscape of fashion supply to fashion lovers across Asia. Today, Zilingo sells in Indonesia, Thailand, Singapore, ships internationally to four more countries and has supply bases in its home countries of Singapore, Thailand & Indonesia, as well as China, Bangladesh, Vietnam & Cambodia. With over 10,000 independent merchants using the platform selling to millions of customers around Asia and the world, Zilingo aspires to take Asian fashion to the world.
 
Bose says: “We think the market is showing us the right signs in terms of adoption and retention, so it’s 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.”
 
Shailendra Singh, Managing Director, Sequoia Capital (India) Singapore, says: “The Zilingo investment is special for Sequoia because our association started with a seed investment even before the Zilingo service was first launched. Ankiti and Dhruv have totally impressed us with the quality of team they have assembled, their innovative e-commerce strategy and playbook and their speed and quality of execution, all of which resulted in more than 10x revenue growth in the last one year. This new round was finalized weeks after the last one and is a ringing endorsement of how much potential the investor group sees in the company. We’re glad to have invested significantly across all rounds the company has raised.”
 
Albert Shyy, Principal at Burda, says: “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 & continue to be very impressed with the company’s trajectory.”

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