Singapore's Zilingo Raises $226 Million to Expand Fashion Site

Zilingo co-founder and CEO Ankiti Bose said that the company is pretty close to profitability

"Zilingo's comprehensive platform allows consumers to have greater access to a diversity of fashion merchants, fostering cross-border partnerships between micro merchants and manufacturers, and providing them with value-added services including working capital financing".

Many investors participated in the series D financing including Temasek Holdings, Sequoia Capital, EDBI, the investment arm of Singapore's Economic Development Board, Burda Principal Investments and Sofina. For a brief noting, revenue branched 12 times at the ned of year on March 2018 and fourfold in the April to January phase, according to the company.

"It's imperative for us to build products that introduce machine learning and data science effectively to small and medium-sized enterprises (SMEs), whilst also being easy to use, get adopted and scale quickly", Zilingo's co-founder and CTO Dhruv Kapoor said in a statement.

Singapore headquartered company claims to be growing at an exponential rate.

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Bose and Kapoor, who serves as chief technology officer, realised that many small merchants suffered from a lack of access to technology, capital and economies of scale. She realized the sellers didn't have sufficient opportunities to expand. It operates fashion e-commerce sites in Indonesia, Thailand and the Philippines and is preparing to launch in Australia soon.

Zilingo has now grown to have offices in eight countries with over 400 employees.

While Bose has figured out a way to differentiate Zilingo, her challenge is to now manage the company's "hyper-growth" by recruiting the right leadership team and maintaining the right culture, said Shailendra Singh, managing director of Sequoia Capital (India) Singapore. She graduated from St. Xavier's College in Mumbai with an economics and mathematics degree, before taking up a job with a consultancy McKinsey & Co in India. She has become the youngest female chief executive to lead a startup of this size in Asia. Of the total $3 trillion in fashion manufacturing done globally, about $1.4 trillion is done from Asia, according to the company, presenting a much bigger opportunity than consumerfacing commerce business.

"I kept raising my hand and said, 'Teach me everything, '" Bose said of her pre-startup years. Only the headline has been changed.

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