Sequoia leads $226m Series D for Singapore’s Zilingo

Temasek Holdings, Burda Principal Investments, Sofina, and EDBI also contributed capital. The company, which is reportedly valued at $970 million, claims to have increased its revenue approximately fourfold since a $54 million Series C last year. “We are pretty close to profitability and have a clear path to it,” Ankiti Bose, Zilingo’s co-founder and CEO, told Reuters.

Founded in Thailand in 2015, Zilingo specializes in helping small-scale fashion retailers in Southeast Asia access large online sales channels. The business model has gradually developed from a pure marketplace to diversified B2B services platform.

The company helps brands with low market penetration improve operations such as managing inventory, sourcing materials from factories, and conducting sales analytics. It has bases in eight countries, including China and India, and more than 400 employees. 

The fresh capital will be used to invest in supply chain digitization technology and to realize operational expansions in Indonesia, the company’s core market, as well as the Philippines and Australia. It brings total funds raised to date to $308 million.

Previous investors include Amadeus Capital, Beenext, Susquehanna International Group, and Venturra Capital, which contributed to the Series C, as well as Wavemaker Partners, Draper Fisher Jurvetson founder Tim Draper and IDG Ventures India founder Manik Arora, which participated in a $17 million Series B. Digital Garage joined an $8 million Series A in 2016.

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• Topics
• Southeast Asia
• Consumer
• Support services
• Expansion
• Technology
• Singapore
• Sequoia Capital
• Temasek Holdings
• EDBI
• TMT
• Technology