Zilingo Valuation, Funding & Investors
Zilingo is not operational anymore. Its last reported valuation was $970M as of February 2019.
Last Zilingo valuation
$970M
Series D · Feb 2019
Last Zilingo funding round
$226M
Series D · Feb 2019
Cumulative funding Zilingo raised
$308M
across 5 funding rounds
Key investors in Zilingo
Sequoia Capital
Susquehanna International Group
BEENEXT
Burda Principal Investments
Venturra
Peak XV Partners
About Zilingo
Zilingo is a B2B e-commerce platform connecting fashion brands, manufacturers, and retailers across Southeast Asia. Singapore-headquartered and launched in 2015, it offers supply chain tools for sourcing apparel, accessories, and beauty products from over 100,000 suppliers. The platform facilitates transactions worth hundreds of millions annually through Zilingo Analytics for demand forecasting and Zilingo Pay for financing. Backed by investors like Sequoia Capital India, Zilingo serves brands in Indonesia, Thailand, and the Philippines, streamlining procurement with AI-driven matching and logistics integration.
Founded
2015
HQ
SingaporeWebsite
Status
Closed
Customer focus
B2B
Revenue model
Commission
Valuation
$970M (Feb 2019)
Zilingo Valuation
Zilingo is insolvent and not operational anymore. Read the announcement ↗
Zilingo was last valued at $970M, based on its Series D in February 2019.
The $226M round was led by Peak XV Partners, with participation from Temasek, Myntra, Burda Principal Investments, EDBI and Sofina.
Zilingo valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2023 | Write-down · Insolvency | $0 |
| Feb 2019 | Series D | $970M |
Zilingo Funding History
Before winding down, Zilingo has raised a total of $308M across 5 funding rounds.
Zilingo's first fundraising round was a $2M seed round in November 2015. The most recent completed round was a $226M Series D in February 2019.
Zilingo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2019 | Series D | Peak XV Partners (lead); Temasek; Myntra; Burda Principal Investments; EDBI; Sofina | $226M | $970M | Zilingo is a B2B fashion commerce platform focused on digitizing Asia's fashion supply chain, connecting brands, manufacturers, wholesalers, and retailers with technology for sourcing, payments, and logistics. The company raised $226 million in its Series D funding round in February 2019, led by Peak XV Partners (formerly Sequoia India), with participation from investors including Burda Principal Investments, EDBI, Myntra, Sofina, and Temasek Holdings. Funds were intended to expand B2B services and further digitize the supply chain across Asia. This round followed earlier financings: Seed ($1.88M in Nov 2015), Series A ($8M in Sep 2016 led by Sequoia Capital), and Series C ($54M in Apr 2018 led by Burda Principal Investments, Peak XV Partners, and Sofina). By Series D, Zilingo had raised a cumulative $347.88 million across multiple rounds from 18 investors. Zilingo operated in the competitive B2B fashion tech space, aiming to improve supply chain efficiency amid growing e-commerce in Asia. The company faced challenges post-2019, including a loan of $40M in July 2021 and eventual shutdown amid governance issues, but the 2019 round marked a high point in valuation and funding scale. |
| Apr 2018 | Series C | Burda Principal Investments (lead); Peak XV Partners (lead); Sofina (lead); BEENEXT; Manik Arora; Susquehanna International Group; Tim Draper; Amadeus Capital Partners; Venturra | $54M | - | Zilingo, founded in 2015 by Ankiti Bose and Dhruv Kapoor, operates as a horizontal e-commerce platform connecting fragmented fashion supply chains to consumers across Asia, with over 10,000 independent merchants selling two million products in fashion, beauty, and lifestyle categories. The company serves markets in Indonesia, Thailand, Singapore, and ships to additional countries, sourcing from China, Bangladesh, Vietnam, and Cambodia. In April 2018, Zilingo raised $54 million in its Series C round, led by Sofina, Burda Principal Investments, and Sequoia Capital India (now Peak XV Partners), bringing total funding to $82 million. Existing investors including Tim Draper, Susquehanna International Group (SIG), Venturra, BEENEXT, and Manik Arora participated, with Amadeus Capital Partners joining as a new investor. The Series C round followed closely after a $17-18 million Series B in late 2017, signaling strong investor confidence in Zilingo's rapid expansion. Sources highlight 10x revenue growth over the prior 12 months leading into 2018, alongside monthly growth rates exceeding 85% earlier and scaling to over 10,000 merchants. Zilingo planned to deploy the funds for international expansion into markets like the Philippines, Vietnam, and Malaysia, enhancing tech services for its merchant ecosystem, and building brand presence, particularly in Indonesia via TV campaigns. Positioned in Southeast Asia's competitive e-commerce landscape, Zilingo targeted the high-margin fashion vertical amid challenges for players like Zalora, aspiring to elevate Asian fashion globally. The platform differentiates by offering a comprehensive ecosystem for merchants, including sourcing and sales tools. Subsequent developments saw further growth, with a 2019 round reaching nearly $1 billion valuation, but the company later faced issues leading to dissolution in 2023; however, 2018 sources emphasized its meteoric trajectory and investor endorsement. |
| Sep 2017 | Series B | Burda Principal Investments (lead); Sequoia Capital (lead); BEENEXT; Manik Arora; Susquehanna International Group; Wavemaker Partners; Venturra; Draper Associates | $18M | - | Zilingo, a Southeast Asia-based fashion e-commerce marketplace founded in 2015 by Ankiti Bose and Dhruv Kapoor, raised $18 million in a Series B round in September 2017 led by Sequoia Capital India and Burda Principal Investments, with participation from BEENEXT, Draper Associates, Manik Arora, Susquehanna International Group, Venturra, and Wavemaker Partners. The platform connected independent fashion sellers and boutiques to expand online, operating seller hubs in Thailand, Indonesia, Hong Kong, Korea, Vietnam, and Cambodia, while shipping to eight countries. Prior to the round, Zilingo reported over 10-fold revenue growth and added 5,000 new merchants in the past twelve months, achieving 85% month-over-month growth. The funding supported expansion in Southeast Asia, particularly Indonesia, and launched a B2B network enabling U.S. and European fashion sellers to source products directly from Zilingo. This marked Zilingo's third funding round, following $2 million in 2015 and $8 million in 2016. |
| Sep 2016 | Series A | Sequoia Capital (lead); Susquehanna International Group (lead); Venturra (lead); Beenos Partners; Digital Garage; BEENEXT; Wavemaker Partners | $8M | - | Zilingo, a Bangkok-based online fashion and lifestyle marketplace targeting Southeast Asia, raised $8 million in its Series A funding round in September 2016. The round was led by Venturra Capital, Sequoia Capital, and Susquehanna International Group, with participation from Wavemaker Partners, Beenext, Beenos Partners, and Digital Garage. This followed a prior $2 million seed round, bringing total funding to $10 million at that point. The platform connects small enterprises and fashion sellers—over 2,000 at the time—with buyers, charging 10-15% commission per transaction while offering free tools for payments, marketing, order management, inventory, and analytics. Zilingo reported 30% month-on-month growth, positive unit economics with 1-2% margins after costs, and over half a million active users. Funds were allocated for expansion into Thailand, Singapore, Indonesia, seller onboarding, technology development including AI and augmented reality, and hiring. Zilingo positioned itself in the $20 billion SEA fashion and beauty market, emphasizing profitable operations without sacrificing unit economics for growth, and building a moat through supply access to 60% of the long-tail market. |
| Nov 2015 | Seed | Sequoia Capital; Sandeep Tandon; Teruhide Sato; Kunal Shah | $2M | - | - |
Who has invested in Zilingo?
20 investors have backed Zilingo across its funding rounds, including Sequoia Capital, Susquehanna International Group, BEENEXT, Burda Principal Investments, Venturra and Peak XV Partners.
Lead investors include Peak XV Partners, Burda Principal Investments, Sofina, Sequoia Capital, Susquehanna International Group and 1 other investor.
Zilingo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Singapore | 3 | Participant | Sep 2016 | |
 Munich | 3 | Lead | Sep 2017 | |
 San Francisco, CA | 3 | Lead | Nov 2015 | |
| Philadelphia, PA | 3 | Lead | Sep 2016 | |
 Jakarta | 3 | Lead | Sep 2016 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Manik Arora | Singapore | 2 | Participant | Sep 2017 |
| Singapore | 2 | Participant | Sep 2016 | |
 Brussels | 2 | Lead | Apr 2018 | |
 Bangalore | 2 | Lead | Apr 2018 | |
| Singapore | 1 | Participant | Feb 2019 | |
 Tokyo | 1 | Participant | Sep 2016 | |
| Tokyo | 1 | Participant | Sep 2016 | |
| Bangalore | 1 | Participant | Feb 2019 | |
This data is available for Pro users. Sign up to see all 20 Zilingo investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Zilingo
Zilingo has acquired 1 company to date.
Last acquisition by Zilingo was on December 17th 2019. Zilingo acquired nCinga for $16M.
Latest Acquisitions by Zilingo
| Description | nCinga is a South Africa-headquartered digital platform for apparel, manufacturing, and telecom industries. Built on the nCinga Spark ecosystem, it delivers real-time data analytics, inventory tracking, and production planning tools. The solution integrates IoT sensors and ERP systems for supply chain visibility across factories in Africa. |
| HQ Country |  |
| HQ City | Colombo |
| Deal Date | 17 Dec 2019 |
| Valuation | $16M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Zilingo acquisitions and their M&A valuation multiples. Start Free Trial | |
Zilingo Competitors
Zilingo competitors included listed companies like Dealicious, Meatbox Global, Dataworks Group and Born, and private ones like Zeoz and Head of Security.
| Company | HQ | Status | Revenue | EBITDA | Valuation |
|---|---|---|---|---|---|
 South Korea | Publicly listed | $27M | - | $32M | |
| South Korea | Publicly listed | $100M | $5M | $25M | |
 Australia | Publicly listed | $6M | ($560K) | $11M | |
| United States | Publicly listed | - | ($40K) | $9M | |
 Slough | Private | - | - | $600K | |
| Chicago, IL | Private | - | - | $500K |
Zilingo Public Comps
Zilingo is defunct now, but its public comps included Getaround, EPWK Holdings, Spacefy, Hydaway Digital, MyHotelMatch, ReAlpha Tech, SosTravel.com and Oriental Culture Holding.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $73M | ($101M) | 0.0x | - | 0.0x | - | |||
| EPWK Holdings | $28M | ($10M) | 0.2x | - | (0.5x) | - | ||
| - | ($42K) | - | - | (13.9x) | - | |||
| - | ($2M) | - | - | (0.4x) | - | |||
| - | ($633K) | - | - | (9.6x) | - | |||
| $5M | ($16M) | 0.5x | 0.5x | (0.1x) | (0.1x) | |||
This data is available for Pro users. Sign up to see all Zilingo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zilingo
| What happened to Zilingo? | Zilingo is not operational anymore and insolvent as of 30 January 2023. |
| When was Zilingo founded? | Zilingo was founded in 2015. |
| Where was Zilingo headquartered? | Zilingo was headquartered in Singapore, Singapore. |
| Was Zilingo publicly listed? | No, Zilingo was a private, VC-backed company. |
| What was Zilingo's valuation? | Zilingo was last valued at $970M in its Series D in February 2019. |
| How much did Zilingo raise? | Zilingo raised $308M across 5 funding rounds. |
| What was Zilingo's last funding round? | Zilingo's last funding round was a $226M Series D in February 2019, led by Peak XV Partners. |
| Who were Zilingo's investors? | Zilingo's investors included BEENEXT, Burda Principal Investments, Sequoia Capital, Susquehanna International Group, Venturra, Manik Arora, Wavemaker Partners, Sofina, Peak XV Partners, Temasek and 10 others. |
| Who were Zilingo's competitors? | Zilingo's competitors included Dealicious, Meatbox Global, Dataworks Group, Born, Zeoz and Head of Security. |
| How many companies did Zilingo acquire? | Zilingo acquired 1 company, including nCinga. |
| What was the largest acquisition by Zilingo? | The $16M acquisition of nCinga in December 2019 was the largest acquisition Zilingo made. |
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