BurdaPrincipal Investments adds another unicorn to its investment portfolio as the Carsome Group (Carsome), Southeast Asia’s largest integrated car e-commerce platform
Hubert Burda Media announced a follow-on investment in Zilingo, the leading fashion-focused marketplace platform in Southeast Asia. Burda’s growth capital arm BurdaPrincipal Investments led the US$54 Million Series C funding round alongside Sequoia Capital India and Sofina, with existing investors and new investor Amadeus Capital also participating. This round comes on the heels of Zilingo’s US$17 Million Series B raised last September.
“We think the market is showing us the right signs in terms of adoption and retention, so it’s good to double down. We are grateful to all the investors for continuously showing great faith in our team and our vision for fashion commerce in this region.”
Ankiti Bose, Zilingo CEO & Co-founder
“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.”
Albert Shyy, Principal of BurdaPrincipal Investments
Founded by Ankiti Bose and Dhruv Kapoor in 2015, Zilingo was built to connect a highly fragmented landscape of fashion supply to fashion lovers across Asia. It has grown 10 times by revenue over the past 12 months, launched a TV campaign in Indonesia, and expanded the merchant ecosystem to include a tremendous arsenal of services, making it a one-of-a-kind product for merchants and private labels across Asia.
Today, Zilingo sells in Indonesia, Thailand, Singapore, ships internationally to four more countries, and has supply bases in Southeast Asia as well as China, Bangladesh, Vietnam, and Cambodia. With over 10,000 independent merchants using the platform to sell to millions of customers, Zilingo aspires to take Asian fashion to the world.