Fashion startup Zilingo raises $226 million from Singapore's Temasek, others

Singapore’s Zilingo raises US$226 million to expand fashion site

Singapore’s Zilingo raises US$226 million to expand fashion site

The duo figured they have complementary skill sets and started Zilingo.com in early 2015 as a consumer-facing fashion portal, looking to bring bazaars of SE Asia online.

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.

The company had last raised funds in April last years.

Zilingo, a Southeast Asia-focused fashion ecommerce platform co-founded by 27-year-old Mumbai native Ankiti Bose, has reached near-unicorn status. It developed software and other tools allowing vendors to access factories from Bangladesh to Indonesia and also helped with cross-border shipping and inventory management.

The logo of Zilingo Pte is displayed on a window at the company's office in Singapore.

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Listings are provided for free with the company charging a commission of between 10 per cent and 20 per cent on orders, helping drive a fourfold increase in revenue in the past 12 months. "We're re-wiring the entire supply chain with that lens so that we can add most value", says co-founder and chief technology officer Dhruv Kapoor.

Bose knew that there was a business opportunity for small merchants when she observed Bangkok's Chatuchak Market, wherein about 15,000 shops selling goods from across Thailand had no sufficient opportunity to expand. Currently, Zilingo is present in eight countries and has 400 employees in total. "Ankiti was a terrific member of the analyst class at Sequoia India before starting Zilingo-she was razor sharp, hard working and always switched on.it's been incredible to witness her transformation into a bold and dynamic founder and business leader", said Shailendra Singh, MD of Sequoia Capital India, which seed-funded the company back in 2015. Her mother had given up her career as a university professor to devote time for her only child. She has become the youngest female chief executive to lead a startup of this size in Asia.

"I kept raising my hand and said, 'Teach me everything, '" Bose said of her pre-startup years. "I busted my ass, working 18 hours a day because it was so much fun".

This story has been published from a wire agency feed without modifications to the text.

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