E-commerce platform Zilingo raises US$17 million in funding

Zilingo co-founder and chief executive Ankiti Bose.
Zilingo co-founder and chief executive Ankiti Bose.PHOTO: ST FILE

SINGAPORE - Singapore-based online retailer Zilingo has raised US$17 million in a funding round led by Sequoia Capital India and Burda Principal Investments.

Mr Tim Draper, the founder of venture capital firm DFJ, also joined the round along with the family office of Mr Manik Arora, who was the founder of IDG Ventures India.

Zilingo said it intends to use the funds to strengthen its position in Indonesia and expand its supply bases.

Its revenue has grown 10 fold and it has added over 5,000 merchants across its platform that sell clothes, jewellery and beauty products in the last 12 months.

Zilingo ships to eight countries and has seller hubs in Thailand, Indonesia, Hong Kong, Korea, Vietnam and Cambodia.

"Our focus on building an extensive seller ecosystem catering to fashion sellers across Asia makes us a favourite with thousands of private labels and merchants, who really are our growth engine", said chief executive Ankiti Bose.

The company raised US$8 million last year and US$2 million in 2015. Total funding raised by Zilingo stands at US$27 million.