Zilingo raises fresh funds for Indonesian expansion
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.”