Singapore Based E-commerce Marketplace, Zilingo, Raises $54m
In Singapore's latest drive to push e-commerce, Zilingo gets a huge cash injection.
As ardent observers of the space will have noticed, Singapore has been making a push to catch up with the likes of the UK, the USA and Hong Kong when it comes to e-commerce, Singapore is somewhat behind in the race for shoppers wallets.
Hoping to change that are Singapore based fashion marketplace, Zilingo. Having just raised $54 Million in their latest round of funding with injections from the likes of Sofina, German media giant Burda and Sequoia Capital India. This is added to the funding already achieved from SIG, Venturra, Beenext and American billionaire, Tim Draper.
Founded in 2015, the latest round of investment takes the total up to $82 million raised in just three years and the latest drive is being used to help the fashion marketplace expand into international markets. Currently Zilingo sells in Singapore, Indonesia and Thailand with international shipping being offered in four more countries. Although impressive, to keep up with international competitors such as net-a-porter, Zalora and Farfetch, the brand are taking steps to expand their international offering.