Thailand’s Pomelo raises extra $19 million capital
In this article (5)
Thai online fast-fashion retailer Pomelo has raised an extra US$19 million in a series-B funding round.
Led by China’s JD.com and Provident Capital Partners, joined by Lombard Investments, it was the largest series-B round by a company based in Thailand.
Pomelo says it aims to use the cash injection to accelerate global growth.
A year ago Pomelo raised a follow-on funding round, taking its total series-A funding to $11 million, an investment led by Singapore-based Jungle Ventures.
Altogether, the three-year-old company has raised $32 million from investors globally.
“We look forward to continuing the mission of building the first global fast-fashion brand out of Southeast Asia,” says Pomelo CEO David Jou.
Questions & Answers
Q.Which investors participated in this latest funding round for Pomelo?
Which investors participated in this latest funding round for Pomelo?
The recent Series B funding round was led by China's JD.com and Provident Capital Partners. They were joined by Lombard Investments, making it the largest Series B round for a Thai company.
Q.What does Pomelo intend to do with this new capital?
What does Pomelo intend to do with this new capital?
Pomelo plans to use the US$19 million cash injection to accelerate its global growth initiatives. The company aims to further its mission of becoming the first global fast-fashion brand from Southeast Asia.
Q.How much total funding has Pomelo raised since its inception?
How much total funding has Pomelo raised since its inception?
Pomelo has raised a total of US$32 million from global investors since its founding three years ago. This includes the recent US$19 million Series B round and its earlier Series A funding.
Q.Who led the company's previous Series A funding round?
Who led the company's previous Series A funding round?
The company's Series A funding, which totalled US$11 million, was led by Singapore-based Jungle Ventures. This round occurred a year prior to the latest capital raise.
Reader pulse
Pomelo's $19M Series B is:
17,285 votes so far