E-commerce firm Zilingo bags US$226m in funding
In this article (5)
Singapore online fashion market Zilingo has achieved capital investment of $226 million in a Series D funding round. The investments were made by the firm’s existing backers, including Sequoia Capital, as well as newcomers Temasek Holdings and EDBI, and will support the business’s expansion into fresh markets in the Philippines, Indonesia and Australia, as well as build new infrastructure and modernise its supply chains.
A report in DealStreetAsia last January suggested that Zilingo was considering listing an IPO with a view to developing offline retail.
“Sequoia’s investment in Zilingo dates back to when the company wasn’t even yet incorporated and the name wasn’t finalised,” said Sequoia Capital (India) Singapore MD Shailendra Singh.
“Ankiti and team have rapidly transformed their original ideas about Zilingo into a platform company that serves fashion consumers, merchants, retailers, brands and manufacturers, collectively representing a multi-hundred billion dollar market size.”
Zilingo serves more than 20,000 merchants and retailers across Southeast Asia. It is currently valued at an estimated $1 billion.
Questions & Answers
Q.What is Zilingo's primary business activity?
What is Zilingo's primary business activity?
Zilingo operates as an online fashion marketplace based in Singapore. It serves over 20,000 merchants and retailers across Southeast Asia, connecting fashion consumers, merchants, retailers, brands, and manufacturers on its platform.
Q.Which new markets will Zilingo be expanding into?
Which new markets will Zilingo be expanding into?
The recent capital investment will support Zilingo's expansion into fresh markets. These include the Philippines, Indonesia, and Australia, as the company seeks to grow its reach beyond its current operations.
Q.What is the approximate valuation of Zilingo?
What is the approximate valuation of Zilingo?
Zilingo is currently valued at an estimated $1 billion. This valuation follows a Series D funding round where the company secured $226 million in capital investment from various backers.
Q.Who were the main investors in Zilingo's latest funding round?
Who were the main investors in Zilingo's latest funding round?
The Series D funding round included investments from existing backers, notably Sequoia Capital. New investors also participated, specifically Temasek Holdings and EDBI, contributing to the $226 million raised.
Reader pulse
Is Zilingo's expansion a threat?
20,215 votes so far