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Ecommerce

Ecommerce startup Zilingo raises USD 226 mln

Tuesday 12 February 2019 | 01:45 PM CET

Ecommerce startup Zilingo has raised USD 226 million in its latest funding round from existing backers such as venture capital firm Sequoia Capital.

The Series D financing follows a USD 54 million fundraising in 2018, taking the total capital raised by the company to USD 308 million. The latest round included Singapore investment fund EDBI and previous investors Burda Principal Investments, a division of Germany’s Hubert Burda Media, and Belgium-based Sofina, with Singapore’s Temasek Holdings joining as a new investor.

The Singapore-based company, which started as a fashion marketplace, has been growing its B2B tools and platforms, which include providing services to its merchants. The startup plans to use the funds to invest in infrastructure and technology to further integrate and digitise the fashion and beauty supply chain.

Zilingo, whose main market for the consumer business is Indonesia, has announced it is expanding in countries such as Australia in 2019.

More: Link
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