Lifestyle marketplace Zilingo outlines expansion plans in Cambodia
Date: 2019-04-12   Author: Shikha Sinha  Category: #news

Lifestyle marketplace Zilingo outlines expansion plans in Cambodia

·         The latest funding brings Zilingo’s total funding evaluation to $308 million.

·         The company, as per reports, is also planning to penetrate China and other key Asian markets as a part of its B2B business expansion strategy.

Zilingo, a Singapore headquartered mobile marketplace for beauty and lifestyle products, has revealed plans of expanding its business to Cambodia, amongst other Asian markets. Sources close to the matter reported that this announcement was made post the company raised $226 million as a part of a series D funding round.

Reportedly, the latest funding brings Zilingo’s total funding evaluation to $308 million. According to reliable sources, the firm is looking forward to o investing capital in a bid to enable long term value-building across the supply-chain. The firm further detailed its plans to strengthen its terms with various manufacturing partners in Vietnam, Cambodia, China, and Sri Lanka, along with expansion into new markets such as the Philippines, Australia, Indonesia and the US in 2019.

For the record, Zilingo has recently applied to the Bangladeshi government for its expansion in the nation and is awaiting the approval for the same. Supporting the move, Ankiti Bose, co-founder and CEO, Zilingo, commented that the company would be a significant addition to the growth of the readymade garment sector in Bangladesh which is already deemed to have a renowned presence globally. The company also looks forward to collaborating with small-scale manufacturers with a minimum production capability of 2000 units per item, Bose further added underlining the mutual opportunities in the country.

As per sources familiar with the knowledge of the matter, key investors from the latest funding round included Temasek Holdings, Sequoia Capital, Sofina, Burda Principal Investments, Singapore investment fund EDBI, as well as the existing investors. The company, as per reports, is also planning to penetrate China and other key Asian markets as a part of its B2B business expansion strategy.

 



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Shikha Sinha

Shikha Sinha

Shikha currently manages the content team at AlgosOnline. An electrical & electronics engineer by education, she has prior experience in content & technology writing, content marketing, market research, and business development domains. Her other interests inc...

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