On Tuesday, Singapore said it had captured $ 226 million worth of investments, such as Sequoia Capital and Temasek Holdings Pte.
Zilingo Pte's path became a fashion platform valued at around $ 1,000 million, beginning in December 2014 when Ankiti Bose, a then Sequoia India analyst, spoke with a neighbor at a party at a home in India's capital of Bengaluru.
Bose, then 23, and Dhruv Kapoor, a software engineer from 24, who worked in the games of Kiwi Inc., quickly realized they had complementary skills and similar ambitions to build their own start. Four months later, they left their jobs, each contributing $ 30,000 in savings, and found that Zilingo is an online platform that allows small businesses in Southeast Asia to increase their scope.
Singapore on Tuesday reported $ 226 million in investments, such as Sequoia Capital and Temasek Holdings Pte. The latest funding was estimated at $ 970 million at Ziling, according to the people who met this issue. name because the information is private. This leaves 27-year-old Bose among the youngest top managers in Asia to launch such an event.
Founding women are still rare in the world of startups. Of the 239 startups in the world that were funded by venture capital worth at least $ 1 billion, according to Pitchbook data from May last year, only 23 have a founder of women.
"We were a group of twenty-year-olds with nothing but a dream and we decided to go after him," Bose said.
Bose is now part of a group of Southeast Asian founders, who are taking advantage of smartphone adoption and revenue growth in the region. Online purchases in the region reached $ 23,000 million in 2018, according to Google and Temasek. It is expected to exceed $ 100 billion by 2025.
Zilingo reported revenue of $ 1.8 million (US $ 1.3 million) in the year ending March 31, 2017, over $ 434,000 in Singapore since its establishment until March 2016, according to the company's latest interpretation before the Singapore regulatory authorities. Revenues increased 12 times in the year ending March 2018 and four times in the period from April to January, according to the company. Kapoor is the director of technology.
The company began to help small resellers sell to consumers and has since expanded into new areas. While the founders dealt with thousands of small suppliers, they realized that many people do not have access to technology, capital, and economies of scale.
That is why they were expanding, developing software and other tools that allowed vendors access to factories from Bangladesh to Vietnam and also helped in cross-border shipping and inventory management. Since 2018, Zilingo has also been working with financial engineering companies to provide working capital to small resellers to buy raw materials and produce goods.