Zilingo secures $8m in funds for Indonesia expansion
Zilingo, a mobile-first marketplace that connects sellers in Thailand and Singapore to online shoppers across the world, has secured US$8 million in Series A funding.
The round was led by Venturra Capital, existing investor Sequoia India, and Susquehanna International Group, a US-based investment and trading company. Wavemaker Partners, Beenext, Beenos and Japanese company Digital Garage also contributed.
The majority the capital will be used to expand into Indonesia and gain market share in current markets — Singapore and Thailand, said Zilingo in a statement.
“We’re looking to build the next generation fashion marketplace with features that no one has quite explored. Developing features like AI, AR, and engaging consumers with video content also require significant human and financial capital,” said Zilingo co-founder and CEO, Ankiti Bose.
“While our primarily markets are Singapore and Thailand, we do ship worldwide. We want to enter Indonesia in November and want to be a leader in its fashion space in 2017. We plan to enter the Philippines by mid-2017.”
Zilingo was founded by Bose and Dhruv Kapoor in 2015. Primarily dealing with fashion and lifestyle products, the platform provides sellers (shopping malls to street vendors) in Bangkok and Singapore with facilities such as free shipping, free packaging, door-step pickup and free and secure payment options.
The recent Series A funding follows a seed funding round of close to $2 million last year.
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