BEENOS among investors in announced 226 Million USD Series D Round Investment by Southeast Asia Fashion/Lifestyle Online Marketplace, Zilingo (a BEENOS investment). Lead Investors include Sequoia Capital and Singapore’s Governmental funds.
Tokyo, Japan – 13 February 2019 – Zilingo Pte. Ltd (Zilingo, https://zilingo.com/) , a BtoC fashion and lifestyle online marketplace and BtoB digital platform for apparel manufacturers, fiber makers and distributors, has raised 226 Million USD (25 Billion JPY) in a Series D funding round. Funders include Sequoia Capital, Temasek Holdings, EDBI, other venture capitals based in Europe and existing investors, including BEENOS Inc. (BEENOS).
Zilingo has attracted attention from all over the globe and has raised a cumulative total of 308 Million USD (41.8 Billion JPY)
BEENOS has invested in Zilingo since August 2016 and remains owning 1 ~ 5% of Zilingo after this round.
Asia is estimated to make up 1.4 Trillion USD of the 3 Trillion USD global fashion market and current trends show that there is also a shift from China over to Southeast Asia.
Zilingo has had a two-pronged approach into the fashion business since its inception in 2015. The first as a BtoC online marketplace for fashion items and the second as an original BtoB digital platform to connect manufacturers, vendors and distributors in the apparel industry. They have since merged the two platforms to create an all-encompassing platform from procurement and sales to distribution and financial services to provide added value and optimize the entire industry in the region. Zilingo has grown at a rapid pace as it has quadrupled its sales in the past year.
Zilingo aims to expand the fashion and beauty industries’ digital infrastructure, strengthen its supply chain and tap further and stronger into the global markets including the Philippines, Indonesia and Australia with this round of fundraising.
BEENOS is currently developing a “Product Arbitrage” system that will analyze the price of merchandise across the globe as one of its focal strategies. Zilingo has put “Product Arbitrage” into practice in the Fashion Industry in Southeast Asia and has grown because of it.
BEENOS will continue to monitor the growing EC market in Southeast Asia and India and plans to engage with its investees to do business collaborations.
※Calculated FX Rate 1 USD = 110 JPY
※The information in this press release is based on Zilingo’s press statement