round led by Sequoia Capital India and Burda Principal Investments. Zilingo is an ecommerce platform that caters to Southeast Asian markets, reports the Economic Times.
The funding round also saw American venture capitalist Time Draper of Draper Fisher Jurvetson participating along with the family office of IDG Ventures India’s founder Manik Arora. Existing investors Venturra Capital, SIG, Beenext and Wavemaker also participated in the round.
“Our focus with this new round is to fortify our fashion supply from across Asia and meaningfully expand in Indonesia,” Ankiti Bose, co-founder of Zilingo told ET.
Zilingo currently does not have plans to cater to the Indian market, Bose added.
Founded in 2014 by Ankiti Bose and Dhruv Kapoor, this startup currently, whose tech team is based in Bengaluru, has one million active users and 5,000 merchants on the platform who sell a wide range of fashion and lifestyle products from clothes, jewellery to beauty products.
The 95-member team is now planning to hire more people based on its growth. It has so far raised $27 million. It raised $8 million from Sequoia India, Venturra Capital and Susquehanna International Group last year. Before that, it raised $2 million in 2015 from Sequoia, Beenext and FreeCharge founders Kunal Shah and Sandeep Tandon.
The company claims to have seen a 10-time increase in revenue in the past 12 months. As per the ET report, Zilingo currently ships to eight countries and has seller hubs in Thailand, Indonesia, Hong Kong, Korea, Vietnam and Cambodia.
“We have been extremely impressed with Zilingo's growth and 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,” Albert Shyy, principal at Burda, said in a statement.