Zilingo Announces Series D Funding Amount Of 3 Trillion Rupiah

Today (12/2) service fashion commerce Zilingo announced the closure of its $226 million series D funding round (equivalent to IDR 3,1 trillion). This funding was obtained from a number of investors including Seqouia Capital, Temasek, Burda Principal Investments, Sofina, EDBI and a number of previous investors. With that round, the total total capital fund This startup from Singapore earned around $308 million.

Zilingo will use existing funds to invest in the infrastructure and technology needed to integrate and digitize the supply chain of the fashion and beauty industry. They also plan to strengthen expansion in key markets such as the Philippines, Indonesia and Australia this year.

Zilingo inaugurated its presence in Indonesia since early 2017 after obtaining series A funding in the previous year. For fashion products, Indonesia is considered as a potential market share. At the beginning of his presence Zilingo directly form a local team, and gather more than 2700 sellers with 100 fashion brands -- of course spiced with advertising publications in the media mainstream vigorously.

Apart from increasing traction for the B2B and B2C segments, Zilingo also continues to explore possibilities other business models. One of them was presented earlier this year by Zilingo Co-Founder and CEO Ankiti Bose. It plans to expand the offline segment in order to reach a wider audience of consumers.

In addition, Ankiti also revealed about the plan Zilingo to build service in-house fintech which is intended for credit loan assistance and payment systems to the merchant.

Not just marketplace fashion

Platform E-commerce it was founded by two people founder, namely Ankiti Bose and Dhruv Kapoor, in 2015. At that time founder find the fact that small sellers do not have sufficient volume to supply raw materials as cheaply as large entrepreneurs. From there Zilingo began to expand its business, not just marketplace, but also develop a system that connects sellers with various companies supporting the fashion industry itself.

"The role of technology should be to create inclusive growth. In the fashion industry, core supply chain inefficiencies prevent small and medium-sized retailers from unlocking their full potential compared to brand big. We create a platform with best-in-class service and products for all sellers - regardless of size. We think this approach can support major growth for suppliers in Southeast Asia," said Ankiti.

In the B2B segment, to improve supply chain capabilities, they present Zilingo AsiaMall and Z-Seller platforms. Zilingo is committed to accelerating growth by working with partners utilizing developed technologies. In addition, the company is still trying to unlock global potential to market fashion and beauty products.

The value of the global fashion industry is estimated at $3 trillion, of which $1,4 trillion will come from Asia. This opportunity is what Zilingo is trying to capture.

"Sequoia's investment in Zilingo existed even before the company was incorporated and the Zilingo company name was finalized. Ankiti and his team turned their original idea of ​​Zilingo into a platform that caters to consumers, sellers, retailers, brands, and manufacturers in the fashion sector as a whole representing a market worth hundreds of billions of dollars,” said Managing Director of Sequoia Capital Singapore Shailendra Singh.