Zilingo raises fresh funds for Indonesian expansion
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Thai-headquartered fashion and lifestyle online marketplace Zilingo has raised US$17 million in a fresh investment round to fund expansion.
Much of the funding came from Zilingo’s original investor, Sequoia India, with Burda Principal Investments (BPI), Venturra Capital, SIG, Wavemaker and Beenext also joining in.
Zilingo is expanding across Southeast Asia and funds from this round are earmarked to strengthen its position in Indonesia.
The concept is essentially an app-based solution which allows people to find fashion items, chat with vendors and shop online, within a country or cross-border. It targets small fashion retailers and labels and SMEs without the resources or scale to build their own online stores.
One of the investors, Albert Shyy, principal at Burda, said he was “extremely impressed” with Zilingo’s growth and its focus on strong unit economics.
“We believe there is a massive opportunity to build the leading fashion marketplace in the region and are very excited to join their journey.”
Questions & Answers
Q.What is the primary purpose of this new investment round for Zilingo?
What is the primary purpose of this new investment round for Zilingo?
The fresh investment round is specifically earmarked to strengthen Zilingo's position and fund expansion within Indonesia. The company is broadly expanding across Southeast Asia, but these funds are focused on the Indonesian market.
Q.Which types of businesses does Zilingo's platform primarily target?
Which types of businesses does Zilingo's platform primarily target?
Zilingo targets small fashion retailers, labels, and SMEs that lack the resources or scale to build their own online stores. The platform provides an app-based solution for these businesses to connect with customers.
Q.Who are the key investors that participated in Zilingo's latest funding round?
Who are the key investors that participated in Zilingo's latest funding round?
Much of the funding came from Zilingo’s original investor, Sequoia India. Additional investors included Burda Principal Investments (BPI), Venturra Capital, SIG, Wavemaker, and Beenext, all joining the round.
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