Not on the High Street , the UK’s best-loved curated online marketplace for unique lifestyle products and thoughtful gifts, today announces it has been acquired by growth equity firm Great Hill Partners.
Hubert Burda Media announced its investment in Zilingo, the leading fashion-focused marketplace platform in Southeast Asia. Burda’s growth capital arm BurdaPrincipal Investments led the $17M Series B funding round alongside Sequoia Capital India and other already existing investors. This round will be used to strengthen the company’s position in its newest market, Indonesia, and expand their supply base.
CEO Ankiti Bose and CTO Dhruv Kapoor founded Zilingo in April 2015 with the idea of aggregating the abundant yet unorganised fashion supply in the Southeast Asian markets. The company first launched in Thailand and now ships to eight countries while working with over 5,000 merchants who offer clothes, jewelry, and beauty products.
“Zilingo is a perfect fit into Burda’s investment portfolio with our history in fashion and ecommerce. They have clearly found a sweet spot catering to a young, up-and-coming demographic as evidenced by their growth and strong repeat rates. We are very excited to join them in building the leading fashion marketplace in the region.”
Albert Shyy, Principal of BurdaPrincipal Investments
“Since we started Zilingo, our focus has been building an extensive seller ecosystem catering to fashion sellers across Asia. This makes us a favourite with thousands of private labels and merchants, who are our real growth engine. We believe Burda’s vast network and experience supporting fast growing digital companies will be a tremendous asset as we scale our business globally.”
Ankiti Bose, Zilingo CEO & Co-founder
Zilingo provides services to merchants that allow them to grow their business digitally, including packaging, video production, and working capital loans. Over 60,000 new styles are added each week to cater to the rapidly evolving fashion trends of Zilingo’s core customer group of millennial buyers (85% of their customers are under the age of 35).
BurdaPrincipal Investments has significant experience investing globally in fashion and marketplace platforms. The company provides long term growth equity for fast growing digital technology and media companies. Current investments include Baublebar, Etsy, Notonthehighstreet.com, M.Gemi, Vinted and Showroom.
For additional information on Zilingo visit www.zilingo.com.