JAKARTA (TheInsiderStories) – Zillingo, a marketplace in Southeast Asia that focuses on fashion and lifestyle, has raised US$ 226 million in Series D funding rounds from Sequoia Capital, Temasek, Burda Principal Investments, Sofina, investment funds from Singapore – EDBI, and investors already existing, making the total funding collected by the company to be $308 million.
Co-founder and CEO Zilingo Ankiti Bose said, in a written statement yesterday (02/12), the provider should be an enabler to create inclusive growth. In the fashion industry, core supply chain inefficiencies prevent small and medium scale sellers from opening up their full potential compared to large brands.
Based on his information, Zilingo is committed to accelerate growth by working closely with the company’ trading partners to utilize its proprietary technology and unlock enormous global potential, as well as opportunities for sellers and consumers in the fashion and beauty category.
Zilingo will use existing funds to invest in the infrastructure and technology needed to integrate and digitize the supply chain of the fashion and beauty industry. They also plan to strengthen expansion in several key markets such as the Philippines, Indonesia and Australia for this year.
In Indonesia, Zilingo entered this country in the beginning of 2017 after the acquisition of series A funding in the previous year. Zilingo saw Indonesia as a potential market share, thereforr at the beginning of its presence Zilingo immediately formed a local team, and gathered more than 2,700 sellers with 100 fashion brands.
In addition to increasing transactions for the Business to Business (B2B) and Business to Customer (B2C) segments, Zilingo also continues to explore the possibility of other business models. One of them, according to Bose, is to explore the offline segment in order to touch wider consumers.
In the B2B segment, to improve supply chain capabilities, they present the Zilingo AsiaMall and Z-Seller platforms. Zilingo is committed to accelerating growth through collaboration with partners utilizing the technology developed. In addition, the company also continues to try to open up the global potential to market fashion and beauty products.
Besides that, Bose also revealed about Zilingo’s plan to build an in-house fintech service aimed at loan credit assistance and payment systems to merchants.
On the other hand, Managing Director of Sequioa Capital Singapore Shailendra Singh added, the value of the global fashion industry is estimated to reach US$ 3 trillion, while US$ 1.4 trillion comes from Asia. This opportunity is trying to be captured carefully by Zilingo.
“Sequoia’s investment in Zilingo already exists even before the company was incorporated and the name Zilingo company was finalized. Ankiti and her team transformed their original ideas about Zilingo into a platform that serves consumers, sellers, retailers, brands, and manufacturers in the fashion industry as a whole that represents a market worth hundreds of billions of dollars, “said Singh.
Zilingo was established in 2015 by Ankiti Bose and Dhruv Kapoor. The idea came from when Bose was on holiday in Bangkok and noticed that many of the small and medium sized shops had no online presence.
The company began with seed funding from Sequoia India and raised an additional US$8 million in a Series A funding round in September 2016. It raised an additional $18 million in 2017 in a Series B round and $54 million in a Series C round in 2018.
In 2017, Zilingo was shipping to eight countries and has seller hubs in Hong Kong, Korea, Vietnam, Cambodia, Indonesia and Thailand, adding 5,000 new merchants in the previous twelve months.
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