Singapore-based fashion e-commerce marketplace Zilingo raised $54m in series C funding today from a group of backers co-led by Burda Principal Investments, a subsidiary of media group Hubert Burda.
Sofina and Sequoia Capital India co-led the round, which was also supported by quantitative trading and technology firm Susquehanna International Group (SIG), internet company Digital Garage, Amadeus Capital, Venturra, Beenext, Wavemaker Partners, and private investors including Manik Arora and Tim Draper.
Founded in 2015, Zilingo has created an online marketplace focused on fashion, jewellery, lifestyle and beauty products sold by small-scale offline businesses and designers. It also operates AsiaMall, a platform for merchants to purchase wholesale from Asian suppliers.
The company also provides access to discounted services such as logistics, warehousing and cataloguing.
Burda Principal Investments previously co-led a $17m series B round with venture capital firm Sequoia in September 2017. SIG, Beenext, Venturra, Wavemaker, Draper and Arora also participated in the series B round.
In 2016, Zilingo secured $8m in a series A round that included SIG, Venturra, Sequoia and, according to Tech in Asia, Beenext and Digital Garage, after it had raised $2m in seed funding in 2015 from Seuoia and angel investors such as Teru Satu, founder of Beenext.
Albert Shyy, principal at Burda Principal Investments, said: “Zilingo is creating a complete ecosystem for merchants to grow their online fashion business in Southeast Asia and beyond – we believe there is an untapped opportunity across the entire Asian fashion value chain and continue to be very impressed with the company’s trajectory.”