Phillip PE leads Series B round for Singapore’s Clozette

Clozette was founded in 2010 and operates in seven territories - Singapore, Indonesia, Malaysia, Thailand, the Philippines, Japan and Taiwan.

It allows users to upload and share photos of their fashion and beauty items, collect and organize items from other online stores and shop from more than 3,500 brands. The network currently has 300,000 members and receives over 8 million monthly page views.

Clozette has strategic collaborations with Glam Southeast Asia and SingTel's lifestyle portal inSing.com, and partnered with Rakuten Ichiba Taiwan and Female Daily Network in Indonesia to launch editions for the local market.

"We plan to use the funds to recruit more talents, accelerate our rapid growth and dominance in the social commerce space in Southeast Asia, and to build on our partnerships in Japan, Taiwan and Indonesia," Roger Yuen, Clozette's founder and CEO, said in a statement.

The company will also invest in technology, including a significant commitment to personalization, enhanced mobile web and app experience, as well as rolling out new tools, features and a visual search capability.

Clozette raised $1.16 million in its seed round in April 2011, followed by a $1.9 million in Series A round from Walden International's Seed Ventures IV fund in May last year.

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• Topics
• Southeast Asia
• Venture
• Consumer
• Technology
• Singapore
• Phillip Capital Group
• Walden International
• TMT
• Consumer
• Venture