Friday, 2023 September 29

Zilingo raises US$226 million in series D, likely to become Southeast Asia’s next unicorn

Singapore-based online fashion marketplace Zilingo has raised US$226 million in its Series D round. This brings the company’s total capital raised to US$308 million. Zilingo is currently valued at US$970 million as reported by Bloomberg, making it a likely candidate to become Southeast Asia’s next unicorn.

Besides growing its presence in Indonesia and expanding into the Philippines and Australia, the company will put this money toward building its supply chain.

Zilingo’s Series D round is one of Southeast Asia’s largest funding rounds for an e-commerce startup. Sequoia Capital, Burda Principal Investments, and Sofina made investments, as did first-time investors like Singaporean state-linked funds Temasek and EDBI. It came just 10 months after the fashion startup received US$54 million in its Series C round.

Zilingo’s latest round of funding supports DealStreetAsia’s prediction that it might join Grab, Go-Jek, Tokopedia as a unicorn in Southeast Asia this year.

Editor: Brady Ng


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