Three-year-old South-east Asian e-commerce start-up Zilingo entered the US online marketplace by launching its new business-to-business (B2B) platform, Zilingo Asia Mall (ZAM) on April 6. The firm recently closed a $54-million series C funding round led by Sofina, Burda Principal Investments and Sequoia Capital India with Amadeus Capital joining as a new investor.
Zilingo will allocate the fresh capital to boost its business in Indonesia and other ASEAN markets apart from strengthening ZAM in the US market.Three-year-old South-east Asian e-commerce start-up Zilingo entered the US online marketplace by launching its new business-to-business platform, Zilingo Asia Mall on April 6. The firm recently closed a $54-million series C funding round led by Sofina, Burda Principal Investments and Sequoia Capital India with Amadeus Capital joining as a new investor.#
All existing investors, including Tim Draper, SIG, Venturra, Beenext and Manik Arora, also participated in the funding round, according to a company press release.
Founded by Ankiti Bose and Dhruv Kapoor in October 2015, Zilingo was built to connect a highly fragmented landscape of fashion supply to fashion lovers across Asia.
ZAM is the first fashion and lifestyle focused all-in-one procurement solution that offers a one-stop shop for sourcing competitive pricing, procurement, merchandising, quality control, customer care and flexible credit. (DS)
Fibre2Fashion News Desk – India
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