So now all the way from southeast asia, fashion startup Zilingo just raised a whooping $226 million from singapore’s temasek and other already existing investors, The Series D financing follows a $54 million fundraising last year, taking the total capital raised by the company to $308 million. But they have refused to provide a valuation.
The latest round included Singapore investment fund EDBI and previous investors Burda Principal Investments, a division of Germany’s Hubert Burda Media, and Belgian investment firm Sofina, Zilingo said in a statement on Tuesday.
The Zilingo’s team(man… i love this startup’s name) have come out to say that it plans to use this funding for infrastructural and technological development to further enhance and digitize the fashion and beauty supply chain.
The company which was started as a fashion marketplace has grown so rapidly in it business to business B2B tools which to name a few includes, providing value-added services to its merchants as well as a marketplace to help them source efficiently from manufacturers.
Ankiti Bose, the company’s co-founder and CEO, told Reuters, that “We are pretty close to profitability and have a clear path to it,” In Southeast Asia, local fashion e-commerce players such as Zalora, ‘Love, Bonito’ and JD.com-backed fashion retailer Pomelo compete with global platforms like Asos. She said she had huge plans for the company and that it was just a matter of time.