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 a follow-on investment in Zilingo, the leading fashion-focused marketplace platform in Southeast Asia. Burda’s growth capital arm BurdaPrincipal Investments invested in the US$226 Million Series D funding round alongside Sequoia Capital, Temasek, EDBI, and Sofina, with other existing investors also participating. This round follows Zilingo’s US$54 Million Series C raised last April, bringing the total funds raised by the company to US$308 Million.
“Zilingo fits perfectly in our investment strategy. It has been on an amazing trajectory, having grown revenues four times over the past year, and we are thrilled to once again invest into the company in their Series D round.”
Martin Weiss, Board Member International Hubert Burda Media
“The role of technology should be to create inclusive growth. In the fashion industry, core supply-chain inefficiencies hinder small and medium merchants from unlocking their full potential as compared to the big brands. We are building a level playing field by providing the best-in-class services and products to each merchant – irrespective of their size. We think this approach can unlock immense growth for South East Asian suppliers. We are tremendously grateful to have the continued support of our existing and new investors with whom we share this ambitious vision to build a cutting edge fashion company.”
Ankiti Bose, Co-founder and CEO Zilingo
The company will use the funds to invest in the infrastructure and tech needed to further integrate and digitise the fashion and beauty supply chain. Zilingo plans to expand in key markets including the Philippines, Indonesia, and Australia in 2019.
Zilingo started as a fashion and lifestyle marketplace in 2015 by Ankiti Bose and Dhruv Kapoor. In 2018, the company saw exponential revenue growth after investing in building up their B2B and supply chain capabilities and delivering them through the Zilingo AsiaMall and Z-Seller platform. While most e-commerce companies remain focused on B2C and C2C commerce, Zilingo’s approach has been unique and focused on the under-served use case of creating value for fashion merchants.
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, Notonthehighstreet.com, M.Gemi, Vinted and Showroom.