Thailand's Pomelo gets $19m Series B

The capital will be used to expand operations across Southeast Asia. It brings the company’s total funds raised to date to $32 million, following an $11 million Series A and a $1.6 million pre-Series A, both led by Jungle Ventures.

Other previous backers include 500 Startups, Fenox Ventures, Queens Bridge Ventures, Skype co-founder Toivo Annus and an unnamed hedge fund. Last year, InnoVen Capital, a venture debt firm backed by Temasek and UOB, agreed to divide $5 million in loans between Pomelo and a Malaysian fitness company.

"We have strong confidence in Pomelo Fashion’s unique vertically integrated strategy, which is not only disrupting fashion in Asia, but fashion globally,” Michael Aw, a partner at Provident, said in a statement.

Founded in 2013, Pomelo aims to build Southeast Asia’s first global fashion brand by delivering on-trend garments and accessories quickly and at affordable prices. The company looks to leverage growth in the region’s growing middle class population and e-commerce market, the latter of which it expects to be worth $88 billion by 2025.

Pomelo is based in Bangkok and maintains offices in Jakarta and Singapore. Products are designed by an in-house team and manufactured in Asia for a global customer base. Last year, the company claimed to serve customers in more than 40 countries.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Early-stage
• Thailand
• e-commerce
• JD.com
• Lombard Investments
• TMT