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.
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